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Australian dollar climbs to three-year high, with ASX flat as Nasdaq sinks on tech sell-off

From abc.net.au

The Australian share market is trading sideways after Wall Street's major technology stocks were heavily sold off, while commodity prices have continued to surge. By 11:35am AEDT, the benchmark ASX 200 was steady at 6,780. The broader All Ordinaries index was slightly lower (-0.1pc) at 7,055 points. The Australian dollar went up (+0.6pc) to 79.18 US cents due to a weaker greenback. It climbed as high as 79.29 US cents overnight, its strongest value since early February 2018. "Widespread gains in commodity prices and an increase in Australian interest rates compared to US interest rates were behind the lift in the ... (full story)

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  • Category: Fundamental Analysis