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Dollar tipped to fall below US70c today
8-October-08
Written by AAP
The Australian dollar has opened weaker for the eleventh successive session, losing two US cents overnight as fears about a global slowdown hit commodities-driven currencies.
Analysts expect the Australian dollar to fall below $US0.7000 again today as lacklustre equity markets hit risk appetite for high interest rate currencies.
US Federal Reserve hints at another interest rate cut, and its decision to intervene in the credit market, failed to boost the Australian dollar as the euro rallied against the US unit.
Article continues...
8-October-08
Written by AAP
The Australian dollar has opened weaker for the eleventh successive session, losing two US cents overnight as fears about a global slowdown hit commodities-driven currencies.
Analysts expect the Australian dollar to fall below $US0.7000 again today as lacklustre equity markets hit risk appetite for high interest rate currencies.
US Federal Reserve hints at another interest rate cut, and its decision to intervene in the credit market, failed to boost the Australian dollar as the euro rallied against the US unit.
Article continues...
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