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Asian markets gain as dollar falls
Asian stocks rose, led by Chinese indices, while the dollar declined near its two-month low, following weak US economic data that increased expectations that the Federal Reserve will not raise interest rates soon. The decline in expectations of a US rate hike caused the euro to rise to its highest level in two months, and US two-year Treasury yields increased to 4.154%. In the commodities market, oil prices were mixed amid ongoing tensions in the Strait of Hormuz, while gold prices increased by 0.4% to $4,391 per ounce.
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