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The dollar was down against a variety of currencies in Monday morning Asia trading as investors in the region came to grips with the implications of President Donald Trump’s failure to repeal Obamacare.

The dollar index tracking the US currency against a basket of peers was down 0.3 per cent early in the morning session at 99.3, dropping further below the psychologically important 100-point mark and to the lowest level since February 2.

Japan’s yen was leading gains on the greenback with a climb of 0.8 per cent to ¥110.52 per dollar, the strongest level since November 22. South Korea’s won was up nearly as much with a rise of 0.7 per cent to Won1,115.15 per dollar.

The euro was up 0.4 per cent on the dollar at $1.0847, the strongest level since December 8, while the the pound had firmed 0.3 per cent to 1.2515, nearly erasing Friday’s softening of 0.4 per cent.

The Australian dollar was less invigorated by the weakness in its US counterpart, rising only 0.1 per cent to $0.7632 in Monday morning trading.

Copyright The Financial Times Limited 2017. All rights reserved.
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