Bruised Australian Dollar Bulls May Be in for More Pain
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It’s been a bad week for Australian dollar bulls. And looks like the pain won’t end here.
The currency slid to its lowest in almost three months Friday as Reserve Bank of Australia board member Ian Harper was reported as saying he is not ruling out a rate cut. That followed losses suffered Thursday due to an unexpected decline in August retail sales, and on Tuesday when the RBA said growth and inflation may slow if the Aussie keeps rising.