A surging yen steadied on Monday as Japan's incoming prime minister signalled monetary policy should remain accommodative, while commodity currencies were lifted to the year's highs by investor hopes of a turnaround in China's economy.
Japan's yen had leapt on Friday when Shigeru Ishiba, a former defence minister and erstwhile critic of aggressively easy policy won the leadership of the ruling Liberal Democratic Party, which controls parliament and will vote him into office.
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