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| A slide in the Australian dollar toward 85 U.S. cents probably wouldn’t be sufficient to wean the local economy off its dependence on resources industries, according to speakers on a panel at the Bloomberg Economic Summit.
The currency may fall as low as 85 U.S. cents over six months, Philip Moffitt, the head of fixed-income for Goldman Sachs Asset Management in Asia Pacific, said today at the event in Sydney. The Aussie traded at 90.44 cents as of 1 p.m. local time and has declined 3.2 percent this month. ... |
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