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Euro hits 5-week high as it rises above US$1.12

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The euro rose above US$1.12 for the first time in more than a month on Tuesday while a cut in Australian interest rates failed to weaken the Australian dollar as the fallout of poor GDP (gross domestic product) data continued to weigh on its US equivalent.

London

THE euro rose above US$1.12 for the first time in more than a month on Tuesday while a cut in Australian interest rates failed to weaken the Australian dollar as the fallout of poor GDP (gross domestic product) data continued to weigh on its US equivalent.

The yen hit its

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