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Dollar weak on Powell views; China easing, trade optimism lift Aussie dollar

“McCarthy also said China’s cuts in bank reserve requirements “are very important and have lifted commodities… this should be supportive for the Australian dollar.”” writes unknown author for “The market certainly liked what (Fed Chair Jerome) Powell said on Friday and the reaction has been negative for the dollar.”. The dollar outperformed other currencies in 2018 due to the Fed being the only major central bank to hike rates.”The newsflow we have seen since Friday has lifted sentiment,” said Michael McCarthy, chief markets strategist at CMC Markets in Sydney. Commodity currencies such as the Canadian dollar gained 0.1 percent versus the greenback at C$1.3361 due to a rebound in oil prices.

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