The U.S. dollar continued to be weak against other major currencies in the Asian session on Monday in the wake of U.S. President Donald Trump's protectionist tone in his inauguration speech, hinting no detail on his plans to stimulate economic growth.

Investors turned cautious after Trump's inaugural address, which did not specify his economic policies, but sounded protectionist after he pledged to lead an administration that puts America first.

The president's remarks have been described as protectionist, as he lamented U.S. policies that have enriched foreign industry and subsidized the armies of other countries at the expense of America's industry and military.

Last Friday, the U.S. dollar fell 0.29 percent against the euro, 0.29 percent against the pound, 0.51 percent against the Swiss franc, and 0.24 percent against the yen.

In the Asian trading, the U.S. dollar fell to a 1-1/2-month low of 1.0749 against the euro, a 5-week low of 1.2445 against the pound, a 5-day low of 113.44 114.57 against the yen, and more than a 2-month low of 0.9981 against the Swiss franc, from Friday's closing quotes of 1.0698, 1.2374, 114.57 and 1.0009, respectively. If the greenback extends its downtrend, it is likely to find support around 1.11 against the euro, 1.28 against the pound, 108.00 against the yen, and 0.98 against the franc.

Against the Canadian dollar, the greenback dropped to a 4-day low of 1.3281 from Friday's closing value of 1.3308. The greenback is likely to find support around the 1.30 region.

Against the Australian and the New Zealand dollars, the greenback edged down to 0.7579 and 0.7210 from last week's closing quotes of 0.7552 and 0.7164, respectively. On the downside, 0.78 against the aussie and 0.74 against the kiwi are seen as the next support level for the greenback.

Looking ahead, at 6:30 am ET, ECB President Mario Draghi will deliver a speech on the occasion of the awarding of the Premio Camillo Cavour organised by Fondazione Camillo Cavour in Turin, Italy.

Canada wholesales data for November is due to be released at 8:30 am ET.

At 8:15 am ET, ECB Board Member Peter Praet delivers a speech at "European Pillar of Social Rights Conference", organised by European Commission in Brussels.

At 10:00 am ET, Eurozone consumer confidence for January is slated for release.

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