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Australian Dollar Weakens On Fed Tightening Fears
The Australian dollar fell against its major counterparts in the Asian session on Monday, as Asian stocks followed Wall Street lower on concerns that the Federal Reserve may pursue a more aggressive policy tightening to bring inflation down.
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UK GDP Falls For Second Straight Month1
The UK economy shrank for the second straight month in April after services, construction and production contributed negatively for the first time in more than a year, the Office for National Statistics said on Monday. Gross domestic product fell unexpectedly by 0.3 percent on month, faster than the 0.1 percent drop in March.
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