UNWINDING SAFE-HAVEN BUYING

Safe-haven assets such as U.S. Treasuries and gold gave back some of their recent gains. 

The 10-year U.S. Treasuries yield jumped to 2.129 percent from 2.061 percent, the biggest rise in a month and a half.

Sharp gains in U.S. bond yields also prompted buy-back in the battered dollar. 

The euro dipped to $1.1958, retreating further from Friday’s peak of $1.2092, which was its highest since January 2015. 

The dollar jumped back to 109.35 yen versus Friday’s 10-month low of 107.32. 

The Chinese yuan stepped back further from Friday’s 21-month high versus the dollar to 6.5432 per dollar, after China’s central bank on Monday scrapped two measures that were put in place to support the yuan when it was under significant selling pressure. 

Gold dropped to $1,325 per ounce, compared to Friday’s one-year peak of $1,357.4. 

Oil prices held firm as key U.S. refineries began restarts following Hurricane Harvey, which may help revive crude oil processing. 

The possibility of an extension to the 15-month production pact between members of the Organization of the Petroleum Exporting Countries and non-OPEC producers also helped to support prices. 

Brent crude futures stood at $53.78 per barrel while U.S. crude futures stood flat at $48.04 per barrel, having risen 1.2 percent on Monday.