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Australian dollar falls after commodity prices slide

Posted on 03 October 2008

From Theaustralian.news.com.au: The Australian dollar has fallen sharply on fears about the global economy and after a broad sell-off in commodity markets. The local currency fell as much as 3 per cent from its peak to its trough in overnight trade.

“The Australian dollar has been sold heavily overnight as the US dollar surged and commodity prices continued to weaken,” ANZ analyst Patricia Gacis said in a report. The Aussie dollar was at US77.66c by early afternoon, down from US78.67c in late domestic trade yesterday, Overnight, it ranged from US79.44c to US77.02c…… Full Article: Source


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