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  1. Australia dollar falls as Standard & Poors turns negative on ratings

Australia dollar falls as Standard & Poors turns negative on ratings

The Australia dollar tumbled half a US cent on Thursday after Standard and Poor's said it....

By: | Sydney | Published: July 7, 2016 11:58 AM
Standard & Poors The Aussie fell to ##IMG-CONTENT##.7474, from ##IMG-CONTENT##.7530, after S&P made the announcement. (Reuters)

The Australia dollar tumbled half a US cent on Thursday after Standard and Poor’s said it had cut the outlook for the country’s credit rating to negative from stable, threatening a downgrade of its triple A status.

The Aussie fell to $0.7474, from $0.7530, after S&P made the announcement.

The agency had warned that deadlock on government policy after indecisive weekend elections could endanger the rating over the long run.

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