The dollar has consolidated the sharp losses of yesterday, when markets took a rethink of Fed tightening expectations at the prompt of dovish remarks by member Dudley. USD-JPY has settled around 118.00 after logging a two-week low at 117.05 EUR-USD has retreated back under 1.1100, leaving yesterday's best-in-three-months high at 1.1145. Cable has dipped back under 1.4600 after logging a four-week peak at 1.4649. AUD-USD managed to edge out a fresh one-month high at 0.7191 during Sydney trade before ebbing back to the mid-0.71s. The dollar is likely to lack direction into Friday's U.S.
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