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As Australia commodities sag, A$ unable to play stimulus role

Posted on 30 July 2012

Sinking prices for commodities such as iron ore and coal are sapping Australia’s export earnings and putting at risk billions of dollars of mining investment, a major reason it has so far dodged the recessions of the rich world.
Typically the Australian dollar would act as a safety valve, falling in line with commodities to boost exports. But this time demand from investors and central banks fleeing the euro for safer returns has seen it strengthen for the past eight weeks………………………………………..Full Article: Source


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