At the beginning of the week, the Indian rupee strengthened slightly, while the pound reached its highest level in three weeks. The Chinese yuan remained stable against the dollar and the euro fell.

The Indian rupee strengthened slightly on Monday, following the rise of its Asian counterparts, who were helped by a fall in US bond yields after new economic data boosted hopes of rate cuts by the Federal Reserve It went down later this year. The rupee was at 83.44 against the US dollar at 10:15 AM IST, up slightly from its close at 83.4850 in the previous

The pound rose to its highest level in three weeks against the euro on Monday, after Sunday's elections in France resulted in a parliament without a majority, increasing the risk of political gridlock in the zone's second-largest economy. Euro. Since Labour's landslide victory on Thursday, the pound has strengthened by 0.5% against the euro, leaving the European single currency at 84.54, its lowest level since June 14. The pound gained 0.4% versus the dollar on Friday, after the monthly non-farm jobs report showed that the U.S. economy added jobs at a steady pace in June.

The Chinese yuan remained stable against the dollar on Monday, as the central bank's latest decision to tighten interest rate controls weakened business demand for foreign currency. At 02:30 GMT, the yuan was down 4 pips, or 0.01%, to 7.2689 per dollar after trading in a range of 7.2658 to 7.2695

The euro fell on Monday after projections for the French elections showed a parliament without an absolute majority and a surprisingly strong result of the left-wing alliance, raising new uncertainty about the country's fiscal outlook. The euro fell by 0.06% to $1.0827 and earlier fell as much as 0.4% as investors assessed the consequences of a French parliament without an absolute majority