Asian session review: the US dollar rose against the euro and the yen

During today's Asian trading, the US dollar rose against the euro and the yen. Meanwhile, the Chinese yuan fell against the dollar on the first day of trading after a long holiday.

The people's Bank of China (PBOC) on Monday set the reference yuan rate at 6.9249 yuan per $1. The market rate of the Chinese national currency may deviate from the official reference value by no more than 2% in any of the parties during the day.

"The yuan's losses are much less weak compared to the Chinese stock indexes, which fell by 8%. This is impressive. The stability of the yuan was supported by liquidity injections by the Central Bank of China, " said INTL FCStone trader Minze Wu .

In addition, latest PMI data from the Caixin signalled the softest improvement in operating conditions across China's manufacturing sector for five months in January. Companies signalled slower increases in new orders and output, while payrolls fell for the first time since last October. The headline seasonally adjusted PMI - a composite indicator designed to provide a single figure snapshot of operating conditions in the manufacturing economy - edged down from 51.5 in December to 51.1 in January.

The pound fell against the US dollar, retreating from a high on January 7, as investors took profits after a recent rally and played down the news that the UK had left the European Union.