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Australian Dollar Pops on Fed Retreat but this Rally is Unustainable, Analysts Say
The Australian Dollar rose Thursday after the Federal Reserve admitted it might cut interest rates before the year is out and amid mounting hopes the U.S.-China trade war will be deescalated before the month is out, but analysts at Westpac and UBS are saying the Aussie rally is unsustainable. America's Dollar slumped across the board Thursday in response to the latest monetary policy guidance from the Federal Reserve, which strongly suggested the central bank could cut its interest rate over the coming months, vindicating some analysts for having bet against the U.S. greenback. This enabled the Aussie Dollar and all ... (full story)