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The Aussie Falls on Weak China Export Data

Australia’s dollar weakened from the strongest in more than four months after data showedChina’s exports grew less than anticipated, adding to signs of a slowdown in the world’s second-largest economy.

Overseas sales increased 1 percent in July from a year earlier, following an 11.3 percent increase in June, the customs bureau said in a statement today in Beijing. That compared with the median estimate of economists for an 8 percent gain. New Zealand’s kiwi dollar is set for the biggest five-day drop in almost three months as Asian stocks extended losses following the data, sapping demand for riskier assets.”

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