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It rose to a high of 0.6722, the highest point since September this year. The Australian dollar has rallied by more than 8% in the past few weeks.Australia and China have had a long business relationship. For decades, China has been the biggest buyer of Australia’s goods and services. Recently, however, this relationship has faded as a culture of mistrust has developed. As a result, China has banned some of Australia’s products, including iron ore.
Excluding the volatile food and energy prices, analysts expect that the core PPI declined from 7.2% to 7.0%.
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