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Aussie dollar may drop 25% on commodities, CBA says

Posted on 23 October 2008

From Bloomberg: The Australian dollar, headed for the worst year since a currency peg ended in 1983, may drop a further 25 percent through March as a slowing global economy saps demand for the country’s raw materials, according to CBA Europe Ltd.

The currency, which slid 17 percent in the third quarter, may trade as low as 50.45 U.S. cents, the weakest since Dec. 21, 2001, according to Divyang Shah, chief strategist in London at CBA Europe, a unit of Commonwealth Bank of Australia….. Full Article: Source &sid=a9KoXk92AhVs&refer=commodities


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