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Sterling edged lower towards $1.32, near a three-month low, as investors favored the US dollar amid rising expectations of a Fed rate hike as soon as October, while the Bank of England is not expected to move until November. Elevated oil prices, amid stalled talks to reopen the Strait of Hormuz, have reinforced expecta
Brent crude rose more than 3% above $107 a barrel as US-Iran tensions heightened supply risks and Treasury yields stayed above 5%. The Australian dollar weakened ahead of an expected Reserve Bank of Australia rate hike Tuesday.