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Sundaily (Asia) 10/17/2019 22:55
SYDNEY: The Australian dollar touched a four-week high on Friday as the market scaled back bets on a near-term cut in local interest rates, while Chinese data showed some resilience in September activity even as third-quarter growth slowed. The Aussie dollar was firm at $0.6835 after jumping jumped almost 1% on Thursday alone as a break of major resistance at $0.6810 sparked a wave of short-covering. The New Zealand dollar followed to its highest in five weeks at $0.6376, climbing 0.9% overnight. The rally began when Australian jobs data showed an unexpected dip in unemployment in September, which dimmed speculation the Reserve Bank of Australia (RBA) would cut interest rates again soon. It got a further lift when RBA Governor Philip Lowe t.

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