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One-month risk reversals on AUD/USD (AUD1MRR), the gauge of puts to calls on the Australian Dollar, fell to -1.10 on Wednesday, the lowest level since Jan. 4.  

The data indicates the bearish bias on the Aussie dollar or the demand for put options is the strongest in over four months. Notably, risk reversals have slid from the high of -0.60 seen on April 18.