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Dollar edges lower from 1-week high

The dollar was edging back in Asia trading from Friday’s rally, which was spurred by a solid jobs report that supported the case for the Federal Reserve to press ahead with plans for policy normalisation.

The dollar index, measuring the greenback against a basket of currencies, was down 0.2 per cent at 93.4 as most major currencies gained on the dollar.

The euro was closing in on the $1.18 mark, climbing 0.2 per cent to $1.1791. Japan’s yen was largely steady at ¥110.69, while the Australian dollar gained 0.3 per cent on its US counterpart to $0.7943.

The yield, which moves opposite price, on the 10-year US Treasury was flat at 2.266 per cent.