Aussie Set for Longest Drop Since 1997 After Takeover Rejected
From bloomberg.com
Australia’s dollar fell to a 2 1/2-month low, heading for its sixth weekly drop, after the government’s rejection of a planned foreign takeover raised concern about investment flows into the country. The Aussie depreciated at least 0.5 percent against all 16 major peers since RBA Governor Glenn Stevens said Nov. 21 he is “open-minded” about intervention. New Zealand’s kiwi dollar declined against its U.S. counterpart after a report showed building permits fell in October for the first time in three months. Australian Treasurer Joe Hockey rejected U.S.-based Archer-Daniels-Midland Co.’s planned A$2.2 billion ($2 ...
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