Australian Dollar depreciates on expectation of domestic key interest rate cut

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Source: Bloomberg
© Scanpix/Reuters
The Australian Dollar, so-called Aussie, lost its value against major currency peers before inflation data this week. Investors are concerned that inflation will be in the lowest point in 13 years and that increases expectations that the domestic borrowing rate will be cut by the central bank. The Australian Dollar remains lower after a last two-day drop versus the U.S. Dollar, as Australia's government announced that it will cut public spending in order to reach a budget surplus.
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