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Aussie opened heavy in Europe, rate..........>

AUSSIE
AUSSIE: Aussie opened heavy in Europe, rate slipped to $0.7847 in sympathy with
the falling kiwi following news that New Zealand First have decided to join the
Labour party to form government. Dip buyers were quick to emerge, rate pared
early losses with recovery efforts extending to the $0.7858/63 area. The Asia
high provides initial resistance at $0.7872, solid offers reported behind at
$0.7900 ($0.7890/97 - Oct16-13 highs). Aussie last $0.7859. 

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