Asian shares shrugged off early losses and edged higher on Monday, while the Australian dollar was under pressure after no clear winner emerged from a weekend election. The Australian dollar was slightly higher at $0.7495 , off session lows but still below Friday's one-week high of $0.7504. But both Australian shares and the country's currency turned higher after Moody's Investors Service said short-lived political uncertainty would have limited implications for the country's coveted triple-A credit rating. Australian shares also clawed their way out of negative territory and rose 0.3%. The US dollar held steady against its basket of emerging market currencies ahead of the US Independence Day holiday.

Source: dna July 04, 2016 03:22 UTC