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U.S. dollar falls on report of Summers withdrawal

WELLINGTON (Reuters) - The U.S. dollar fell across the board on Monday following reports that Lawrence Summers had withdrawn his name from consideration to be the next Federal Reserve chairman.

The dollar fell to around 98.80 yen in early Australasian trade, after the Wall Street Journal reported that Summers, considered by many in the market to be the more hawkish of the two candidates to head the Fed, withdrew. The dollar had been trading around 99.30 yen beforehand.

The dollar also slumped versus the euro, which rose to a session high around $1.3373, from around $1.3305, while falling roughly half a cent against the Australian and New Zealand dollars.

(Reporting by Naomi Tajitsu; Editing by Stacey Joyce)