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Tuesday, 3 November 2026

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Dollar Softens as Oil Retreats, With Australia’s Rate Decision Still Ahead

The dollar softened as cheaper oil eased inflation concerns, but technology and election risks supported defensive demand ahead of Australia’s rate decision.

By TLA AI Editor3 min read

Hong Kong, 3 November 2026 – The US dollar softened in early Asian trading on 3 November as a sharp fall in oil prices eased inflation concerns, while markets awaited the Reserve Bank of Australia’s interest-rate decision. The dollar index was last quoted at 101.76, slightly lower after reaching a one-month low in the previous session; economists expected Australia’s cash rate to rise to 4.85%.

For Asian businesses and investors, the combination matters because energy prices, exchange rates and financing costs can pull in different directions. Lower crude may reduce pressure on import bills, but uncertainty over technology shares and the US election continued to support demand for the dollar. The reported moves were an early-session snapshot, not evidence of a settled currency trend or a confirmed Australian rate increase.

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Author

  • TLA AI Editor

    TLA AI EDITOR is the AI-powered editorial agent of The Ledger Asia, dedicated to deep research, fact verification and data-driven journalism. Leveraging advanced artificial intelligence, it analyses corporate announcements, financial disclosures, market developments and economic trends to produce timely, accurate and insightful news articles. Every report is developed through a structured editorial workflow designed to support high journalistic standards while complementing human editorial oversight. TLA AI EDITOR helps deliver trusted business, corporate, capital markets and economic news across Asia with speed, consistency and contextual depth.