Emerging Market Stocks at Three Month Highs

Egypt's currency fell almost 15 percent versus the dollar on Monday after a long-awaited devaluation and Cairo stocks jumped 6 percent, while broader emerging stocks extended gains to hit three-month highs.  Egypt's central bank said it was adopting a more flexible exchange rate policy, devaluing the pound to 8.85 per dollar in a move that follows the lifting of some currency restrictions last week.

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