The dollar rose for a second straight session as crude oil extended its rally and equities pulled back, ahead of Wednesday’s CPI report.

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US CPI eased to 3.4 percent as expected, briefly pressuring the dollar before it reversed to close about 0.2 percent higher.

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AUD futures reached a six-week high after the RBA held rates but signaled it remains open to hiking further if needed.

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The RBA held its cash rate at 4.35 percent as expected, but its statement kept the door open to a future hike if inflation risks build.