The ASX has closer lower as investors digested hawkish commentary from the Reserve Bank. -AAP Image
The Australian share market has closed slightly lower as traders digested hawkish commentary from the Reserve Bank indicating another interest rate hike was possible.
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The benchmark S&P/ASX200 on Wednesday dropped 8.4 points, or 0.11 per cent, to 7,769.7, while the broader All Ordinaries fell 5.3 points, or 0.07 per cent, to 8,010.5.
The Australian dollar was at a one-week high against its US counterpart, buying 66.72 US cents, up from 66.13 US cents at Tuesday's ASX close.
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