Joined Nov 11, 2007
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The Aussie Dollar Falls on Global Slowdown Expectations


Australia’s dollar fell against 14 of its 16 major counterparts as signs of a global economic slowdown sapped demand for higher-yielding currencies.

The New Zealand dollar extended last week’s decline versus the yen after a report today showed Japan’s economy grew less than forecast, adding to signs of a worldwide slump. Data tomorrow may show the euro-area economy contracted during the second quarter. Demand for the so-called Aussie dollar was supported as futures traders increased bets that it will gain.”

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