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Aussie steadies as oil-fuelled risk rally offsets weak domestic surveys
SYDNEY: The Australian and New Zealand dollars held on to gains on Tuesday as a plunge in oil prices fuelled a rally in risk assets, although a string of weak survey results painted a bleak outlook of the Australian economy. The Aussie eased 0.1% to $0.6916 after rallying 1% overnight to as high as $0.6931. The rebound helped recoup part of last week’s 2.5% slide, with support now seen around the June low of $0.6867. The kiwi dollar was steady at $0.5633 after jumping 1.6% overnight, more than recouping losses from last week. Resistance is seen around $0.5658. The kiwi also drew support after ...
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