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Australia central bank chief wants lower Aussie dollar

The Australian dollar dropped below 90 US cents Friday after central bank governor Glenn Stevens said he wanted to see it at 85 US cents to help stimulate trade-exposed sectors of the economy. In a wide-ranging interview with the Australian Financial Review, Stevens also said he expected the US Federal Reserve to scale back its stimulus programme "before too much longer". Speaking just weeks after saying currency intervention was part of his "toolbox", Stevens said he would prefer a lower dollar over lower interest rates as a mechanism to spur the economy.
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