US dollar weakens against major currencies after oil price drop

The US dollar weakened against major currencies at the start of Asian trading on Monday, following a drop in oil prices.

The dollar fell 0.2% against the Japanese yen to 163.585 yen, marking its largest decline since July 10.

Similarly, the euro rose 0.2% to $1.1397, while the British pound gained the same percentage to reach $1.3353.

Data also showed the New Zealand dollar increased by 0.3% to $0.5802, and the Australian dollar climbed 0.2% to $0.6997.

Meanwhile, the US dollar index, which measures the currency against a basket of six major peers, dropped 0.25% to 101.23 points.