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Australian, New Zealand dollars advance on firmer equities

Posted on 29 December 2008

From Bloomberg: The Australian and New Zealand dollars rose after equity markets advanced, prompting speculation investors will buy the nations’ higher-yielding assets.

The currencies gained before reports this week that economists expect will show U.S. manufacturing shrank at the fastest pace since 1980. The Australian dollar slid 20 percent against the greenback this year and New Zealand’s currency lost 23 percent amid concern about an extended global recession….. Full Article: Source


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