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Australian Dollar Rises Against Majors

The Australian dollar strengthened against the other major currencies in the Asian session on Friday.

The Australian dollar rose to nearly a 2-1/2-month high of 0.7588 against the U.S. dollar and nearly a 2-month high of 1.0083 against the Canadian dollar, from yesterday's closing quotes of 0.7558 and 1.0066, respectively.

Against the euro and the yen, the aussie advanced to 1.4075 and 87.05 from yesterday's closing quotes of 1.4097 and 86.82, respectively.

If the aussie extends its uptrend, it is likely to find resistance around 0.78 against the greenback, 1.03 against the loonie, 1.38 against the euro and 88.00 against the yen.

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Business News

Inflation data from the U.S. garnered maximum attention this week on the economics front, along with the interest rate decision by the European Central Bank. Read our stories to find out how these two key events are set to influence monetary policy in the months ahead. Other main news from the U.S. were the release of the minutes of the latest Fed policy session and the jobless claims data. Elsewhere, the interest rate decision by the Bank of Canada was also in focus.

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