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Asian stocks rally as Dollar slips

Stock markets Asia are trading higher this Monday morning with banking shares leading the way on heightened prospects of roll-back of Dodd Frank act under Trump administration.

At the time of writing, Japan’s Nikkei index was up 0.38%. The stocks strengthened despite 0.20% drop in the USD/JPY pair. Mitsubishi UFJ jumped 4.2% after third-quarter profit unexpectedly rose 17%. Hong Kong’s Hang Seng was up 0.70%. Meanwhile, Australia’s S&P/ASX 200 was up 0.18%.

The Dollar Index fell 0.1% following the release of dismal US wage growth numbers on Friday. The greenback has suffered losses for six straight weeks.

The main focus this week is on the central banks – RBA, RBNZ, RBI. At the end of the Japan’s Prime Minister Shinzo Abe will meet US President Donald Trump at the White House.

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