Further Sharp Drop in Australian and Canadian Dollars
May 20, 2010
The U.S. dollar advanced 2.1% and 1.1% against the Aussie and Canadian currencies. The kiwi, down just 0.5%, has shown greater resilience following a well-received New Zealand budget that cut income taxes, raised sales taxes to 15% from 12.5%, and emphasized a long-term plan to contain raising foreign debt. The dollar has also risen 0.6% [...]
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