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Is the Aussie Dollar Becoming a Safe Haven Currency?
Australia belongs to that exclusive club of countries with a AAA rating and its currency has been resilient despite worries about slowing growth in its biggest trading partner, China. Now global central banks are stepping up their purchases of the Aussie dollar. That's raising the question whether the Aussie, once one of the most volatile risk currencies, is changing colors into more of a safe haven. Russia’s central bank has become the latest to consider wading into the nation’s assets. The country will allocate A$5 billion ($5.025 billion) or 1 percent of its foreign currency reserves to Australian-dollar ... (full story)
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