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Dollar hovers at 11-month low, euro treads water

The dollar was holding at an 11-month low as trading got underway in Asia after falling on Thursday on a report that Robert Mueller, the special counsel who investigating possible ties between the Trump campaign and Russia, had expanded his probe to transactions involving the president’s businesses.

The dollar index, a measure of the currency against its peers, fell as much as 0.7 per cent on Thursday to 94.09, its lowest since August. The greenback was flat on Friday at 94.302.

The euro was down 0.1 per cent against the dollar at $1.1623 after climbing to its highest point against the US currency since August 2015 on Thursday as the market digested comments from European Central Bank president Mario Draghi. Mr Draghi’s comments were seen as striking a dovish tone as he set no firm date to start discussions on scaling back the central bank’s €60bn-per-month stimulus programme.