Foreign exchange markets were cooling down in Asia on Tuesday after Monday's session saw the UK pound drop as much as 1.7 per cent as Prime Minister Theresa May was forced to abort a parliamentary vote on her Brexit plan at the eleventh hour.

The pound was up 0.1 per cent in Asia trading at $1.257 as the dollar held on to gains from the previous session, with the dollar index tracking it against a basket of peers off 0.1 per cent at 97.127.

Japan’s yen flirted with the ¥113 per dollar mark before pulling back slightly to be 0.2 per cent stronger on the day at ¥113.17.

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