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Australian dollar falls as RBA boss hints at rate cuts, ASX rises despite global COVID worries – ABC News

Australian shares rise despite a spike in COVID-19 infections dampening global investor sentiment, while the Australian dollar falls on the prospect of a likely…

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Australian shares have rebounded from yesterday’s losses, despite spike in COVID-19 infections dampening the mood of global investors overnight.
Key points:

  • The RBA is likely (70pc) to cut interest rates in November, analysts say
  • The ASX hit a seven-month high, earlier this week
  • Surging COVID infections and delayed US stimulus are affecting global market sentiment

The benchmark ASX 200 closed half a per cent, or 31 points, higher at 6,210 points.
The broader…

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Sue Gilroy