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Pat Cummins’ side is 2.09% points ahead of Rohit Sharma’s India, who have 54.16 points.
India, though, have played just four Tests during the current WTC cycle, while Australia have played eight.
India had taken the top spot following their memorable seven-wicket win against South Africa in Cape Town earlier this week, but Australia crushed Pakistan on Saturday at the SCG to displace India at the top.
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Australia will next play a two-Test series against the West Indies at home, while India will be up against England in five home Tests.