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Australian Dollar Rises Amid Risk Appetite


Australian Dollar Rises Amid Risk Appetite
CANBERA (dpa-AFX) - The Australian dollar climbed against its major counterparts in the European session on Wednesday amid risk appetite, as inflation fears reduced and investors cheered strong earnings updates from the likes of SAP and LVMH Moet Hennessey.
Benchmark U.S. Treasury yields extended their decline to mark a fresh three-week low after data showed U.S. inflation was not rising too fast as had been feared.
Oil prices rose on signs of inventory drawdown and after OPEC raised its forecast for growth in world oil demand this year.
Earnings will be a focus, with JPMorgan Chase & Co. and Goldman Sachs Group Inc among the companies reporting their results later today. ....

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