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Australia's NAB index of business conditions deteriorated to their worst level since May 2009 in...

Australia's NAB index of business conditions deteriorated to their worst level since May 2009 in October, the gauge sliding 2 points to -5. A string of rate cuts is having little positive effect on businesses stung by a strong currency hitting exports and also encouraging shoppers to look overseas, says the NAB's Alan Oster. The teflon aussie (FXA) glides through the news, flat at $1.0423.
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