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Markets Live: ASX on the ropes as Trump rally unwinds

Banks wre at the forefront of another day of selling, shaving most of this year's gains off the index, while political uncertainty sparked turbulence in currencies.

  • Trump bump for the Aussie: the currency soars to two-month high after Trump jawbones the greenback
  • The ASX is on track for a fifth loss in past seven sessions, led down by banks as Trump trade unwinds
  • Consumer confidence fails to rebound despite positive economic news as household worries persist
  • Wesfarmers shares rise following an earnings upgrade in the conglomerates coal division

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