SINGAPORE, Dec 3 (Reuters) – The dollar was becalmed on Wednesday, as other assets hogged the limelight, though investors looking ahead to 2026 were starting to position for U.S. rate cuts to weigh on the greenback.

In morning trade, the Australian dollar touched a three-week high of $0.6576 before retreating a little after gross domestic product data was slightly below expectations.

Overnight the euro cleared its 50-day moving average, after euro zone inflation came in very slightly above expectations, and it bought $1.1629 early in the Asia session.

Moves were dwarfed by the sharp rebound for bitcoin that helped investors more broadly get in the mood for taking on a bit more risk. The biggest cryptocurrency by market value surged about 6% to top $91,000 overnight.

The Japanese yen wa

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