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AUD/USD hits fresh 7-month lows

FXStreet (Córdoba) - The aussie failed to hold to gains and is falling for the third day in a row against the US dollar despite better-than-expected economic data from China. AUD/USD recently bottomed at 0.8833, reaching the lowest price since February 4.

The pair peaked during the European session at 0.8926 but lost momentum and started to pullback. As Greenback gained momentum across the board, accelerated to the downside. In the last five hours lost more than 80 pips, erasing all gains.

Currently is moving slowly away from the lows and trades at 0.8345/50, down 0.28% for the day, headed toward the fourth daily decline out of the last five trading days.

Fed's Bullard expects rates to rise at end of Q1 2015

St. Louis Fed President James Bullard spoke to reporters after giving a speech at a conference on banking on Tuesday, saying that he expected the first rate hike to come at the end of the first quarter of 2015.
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