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Australia, NZ dollars nurse losses as markets wager on hawkish Fed
SYDNEY: The Australian and New Zealand dollars languished near multi-week lows on Thursday as wagers on additional hikes in US interest rates buoyed the greenback and reinforced expectations of further policy tightening at home. The US Federal Reserve raised rates by 25 basis points, as expected, while also projecting at least one more increase by December. Futures now imply a roughly 50% chance of another hike in October and are fully priced for a move by year-end. That left the Aussie at $0.7096, having slid 0.6% to a three-week trough in the wake of the Fed. The break of $0.7100 was technic...
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