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Australian Dollar Also Takes Dive

$A Fuels Inflation Jitters

By Paul Cleary and Corinne Lim

The Australian dollar lost more than US2¢ yesterday in a global currency shake-up that increases the risk of a sharper September quarter inflation spike and boosts the prospect of another interest rate rise later this year.

The dollar's dive to US56.85¢ was fuelled by selling from Japanese investors, according to local traders.

It came as currency markets reacted to a sell-off in the euro on Tuesday night on fears about slower European growth and a stronger Japanese currency.
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