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Australia, NZ dollars pinned near multi-month lows, RBA set to hike
SYDNEY: The Australian and New Zealand dollars languished near multi-month lows on Monday, as rising oil prices added inflation risks and lifted US yields, with their technical outlook turning increasingly bearish. The Aussie was flat at $0.7020, after losing 1.5% last week to hit an eight-week low of $0.7004. It was the third straight week of declines that broke key support at the 200-day moving average of $0.7025, leaving it well below a four-month peak of $0.7238 seen just a little over two weeks ago. The losses came despite markets narrowing the odds on further rate rises, with the Reserve...
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