The Australian dollar pared its early morning gains against its major counterparts on Monday in New York trading. The aussie declined to 0.7098 against the US dollar, 71.39 versus the Japanese yen and 1.8994 against the euro by 8:30 am ET from previous highs of 0.7206, 72.9 and 1.8834, respectively hit early in the European session. Currently, the aussie is trading at 0.7125 against the greenback, 71.79 versus the yen and 1.8947 per euro.

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