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Aussie Dollar Ends Two-Day Drop Before Jobs Data; New Zealand Dollar Gains
The Australian dollar ended two days of declines against the U.S. currency before a government report tomorrow that economists said will show the nation added the most jobs in three months. New Zealand’s currency rose from near a one-week low as crude oil approached the highest level in three weeks and Asian stocks snapped yesterday’s decline, boosting demand for higher- yielding assets. Gains in the kiwi were trimmed after Auckland- based Fonterra Cooperative Group Ltd., the world’s largest dairy exporter, said whole-milk powder auction prices fell to a level not seen in six months. “The Aussie seems pretty ... (full story)