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The dollar and yen fell Monday as improving economic data worldwide and rising stock prices eroded the greenback's safe-haven appeal.
A raft of U.S. data on manufacturing, construction and housing showed more evidence of a recovery in the world's largest economy, encouraging investors to buy riskier assets with higher yields.
Separate surveys showing China's manufacturing sector growing at its fastest pace in 18 months in October and expansion in euro zone factory activity also boosted market sentiment.
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"All the numbers show stabilization and the start of some expansion. That's a continuation of what we've been seeing for the past couple of months," said Thomas Nyheim, vice president and portfolio manager at Christiana Bank & Trust Co. in Greenville, Delaware.
The U.S. manufacturing sector has now grown for three consecutive months, the Institute for Supply Management said Monday.
Other reports showed pending sales of previously owned U.S. homes rose in September to their highest in nearly three years, and construction spending posted its largest gain in a year in September.
The euro [EUR=
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] rose to near $1.48 after rising as high as $1.4845 according to Reuters data.
The dollar gained to about 90 yen [JPY=
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] while the euro [EURJPY=
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] rallied more than 1 percent to around 134 yen.
The ICE Futures U.S. dollar index, a measure of the greenback's value against a basket of six major currencies, fell to about 76.
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