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US Dollar Pressure Persists as Aussie Dollar Nears High

The US dollar remained under pressure on Wednesday after hitting a three-week low in the previous session, as Treasury yields dipped and crude oil prices declined. The Australian dollar traded near a three-week high against the greenback. Reserve Bank of Australia Deputy Governor Andrew Hauser, speaking at a Citi conference, said the inflation outlook looked “materially worse” and that he was unsure whether the central bank would need to raise its policy rate again next month.

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