NEVER BREAK RULES
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Aussie Slammed by Dalian Coal Embargo, While Firmer Flash PMI does Euro Little Good
The US dollar is firm against most major and emerging market currencies. There is more optimism on US-Chinese trade as a series of understandings are drafted, and an extension past March 1 of the tariff freeze is reportedly in the works. Mixed economic data and a call from a local bank for two rate cuts this year did not have as much impact on the Australian dollar as reports suggesting that Dalian, where 2% of Australia coal goes, has blocked imports to which is seen as a protest to Australia's ban of Huawei, It is the weakest currency today, off more than 0.75%, straddling $0.7100 after hovering around $0.7200. A ... (full story)