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Dollar Hovers at 15-Month Lows As Markets Bet on End of Rate Hike Cycle

The US dollar remained at a 15-month low on Friday due to easing inflation, which has led markets to believe that the Federal Reserve is nearing the end of its rate hike cycle.

The dollar index, which measures the US currency against six major rivals, fell to 99.71, its lowest level since April 2022. The index is set for its worst week since November.

Despite lower inflation data, the Commonwealth Bank of Australia still believes that the US will enter a recession later this year due to past and potential future interest rate hikes.

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