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Aussie Falls on Rate Cut, Kiwi Slips on Trade

Tuesday, 1 May 2012 | 7:26 AM ET

A rate cut dents the Aussie dollar and economic blues hit the buck - it's time for your FX Fix.

The Australian dollar fell sharply after the Reserve Bank of Australia cut interest rates more than expected. [CNBC]

Signs of recovery in China's factory sector failed to offset worries about the global economy, and the dollar fell against the yen. [CNBC]

British manufacturing growth slowed more than expected, in line with other downbeat data on the economy, and the pound retreated. [WSJ]

The New Zealand dollar continued its slide after the country's trade surplus unexpectedly shrank in March.

Iceland, pummeled by the financial crisis, is in recovery, thanks in large part to the fact that it allowed the krona to weaken sharply. [Reuters]

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