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Receding risk aversion drives dollar  lower against most major currencies
The US Dollar finished lower against a basket of major currencies last week after an easing of tensions over the trade dispute between the United States and China encouraged investors to lift dollar hedges. The Reserve Bank of Australia (RBA) warned on risks to its outlook from US-China trade tensions and weak wages, while reaffirming its next interest rate move would likely be a hike. The New Zealand Dollar was boosted after data showed its economy grew at a faster pace than expected in the second quarter. The Bank of Japan (BoJ) reiterated last Wednesday that it would keep interest rates extremely low β€œfor an extended period,” holding to forward guidance it first introduced in July.

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