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Aussie dollar dips below US80c

THE Australian dollar closed at a fresh one-year low after dipping below US80c for the first time in more than a year, as stalled talks to prop up a troubled US investment bank weighed down on high-yielding currencies. During the morning, the local currency traded between a high of $US0.8056 and $US0.7982, its lowest level since mid-August, 2007 in the early days of the global credit crunch.

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