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Soft sentiment surveys sink Aussie dollar to seven-month low
SYDNEY: The Australian dollar was pinned to a seven-month low on Wednesday and trailing peers as grim economic surveys reinforced bets that local interest rates have peaked, while a hot US inflation reading raised expectations for a sharp move higher in US rates. Overnight, only the oil-linked Norwegian krone fared worse than the Aussie when a hotter-than-expected US inflation reading set off a surge in the US dollar. The Aussie slid about 0.9%, touching a seven-month low of $0.6844, with the break of support around $0.6855 opening the way for further losses. The next support is $0.6748. “A su...
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