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UEM Sunrise to sell Melbourne property for RM304mil

PETALING JAYA: UEM Sunrise Bhd is planning to sell its property in Melbourne, Australia for AU$107.09mil (RM304.13mil), as it seeks to free up cash to pursue other investments.

Global Forex Market

THE US dollar weakened by 0.49% to 97.352 after a report that Chinese officials were unsure if a longer-term trade deal with the US can be reached, one day after Fed chairman Jerome Powell hinted a pause in its rate cut cycle. The switch in trade narrative and better economic release elsewhere triggered the selling in dollar.

Global Forex Market

THE dollar appreciated by 0.36% to 97.631 following a confluence of factors such as the dovish ECB meeting; higher demand for safe-haven assets as optimism in the US-China trade talks was offset by another round of Brexit saga; and better-than-expected flash PMI data with the October Markit manufacturing PMI preliminary estimate rising to 51.5 points from 51.1 points in September and beating market expectation of 50.7.