A slackening in Australia's economy as the U.S. economy picks up could drive the Australian dollar as low as 80 U.S. cents in coming months, fund manager BlackRock predicts. "In China, growth is softening, and I think Australia has some particular challenges, but the good news is that the U.S. is recovering. We're going to see the biggest economy in the world not only doing better but probably doing better in a much more sustainable way," said Stephen Miller, a BlackRock managing director in Sydney.

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