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AUD starts the week on a sour note
Asia’s main commodity currencies are under pressure once more, with both AUDUSD and NZDUSD breaking important short-term support zones. This time around the sell-off is the result of tumbling commodity prices, with iron ore, Australia’s number one export, falling 4% at the end of last week to a six year low. Some producers are calling for a production cap to help stabilise prices. The ASX 200 also couldn’t escape the carnage with the index falling around 1.2% in the first hour of trading today. In other news, there has been more disappointing economic data from Japan. Industrial production fell a disappointing ... (full story)
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