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Australia dollar stung by RBA's Debelle comments on rates

Published 21/07/2017, 12:53 pm
Updated 21/07/2017, 01:00 pm
Australia dollar stung by RBA's Debelle comments on rates

Australia dollar stung by RBA's Debelle comments on rates

SYDNEY, July 21 (Reuters) - The Australia dollar fell off a two-year peak on Friday after a top central banker said there was no automatic reason for rates to rise after a recent outbreak of hawkishness by global policymakers. Australian dollar AUD=D4 slipped nearly 1 percent to as low as $0.7881. It went as high as $0.7992 earlier in the week but was rebuffed by stiff chart resistance at 80 U.S. cents.

"Just as the policy rate in Australia did not need to decline to the very low levels seen in other parts of the world, the fact that other central banks increase their policy rates does not automatically mean that the policy rate here needs to increase," Reserve Bank of Australia Governor Guy Debelle said in a speech in Adelaide.

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