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Australia, NZ dollars extend gains as US Democratic sweep fuels risk rally
SYDNEY: The Australian and New Zealand dollars extended gains on Thursday as a Democratic Party sweep in the US midterm elections fuelled a rally in equities and a broad retreat in the greenback, offsetting domestic headwinds. The Aussie dollar edged up 0.2% to $0.7019 after rallying 0.6% overnight to as high as $0.7022. The rebound broke a two-day losing streak after the Reserve Bank of Australia hiked interest rates for a fifth time this year but dropped its tightening bias. The kiwi dollar rose 0.4% to $0.5642, having risen 0.6% overnight to as high as $0.5645. That salvaged it from hitting...
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