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Equities temper earlier losses, which has been a habitual trend ahead of the US opening bell, accompanied by a retreat in the dollar and the yen. But overall selling in global equity markets remains underscored by markets’ overwhelming lack of reaction to authorities’ actions. In the Forex complex, the Reserve Bank of Australia was the first central bank of the major currencies to make overt intervention to support its currency but the impact proved only temporary as the Aussie fell back towards its 5-yr lows of 60.5 US cents.
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