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Dollar index nears 10-month low

The dollar hit its lowest level since before the US presidential election in Asia trading on Monday as the impact of subdued retail and inflation data from last week continued to drag on the greenback.

The dollar index, which tracks the US currency against a basket of peers, dipped to as low as 95.061, the lowest level in nine months and 25 days.

The continued weakness follows Friday data showing consumer price growth was unchanged and retail sales fell marginally in June, while consumer sentiment fell another 2 percentage points in a preliminary reading for July.

The dollar was slightly improved from that level in mid-morning trading with most currencies down fractionally or flat against the greenback, although South Korea’s won was up half a per cent and Taiwan’s dollar had gained about a third of one per cent.