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Australia's Caltex says strong A$ pressures margins

Wed Nov 11, 2009 10:22pm EST

Stocks

   

MELBOURNE, Nov 12 (Reuters) - Caltex Australia Ltd's (CTX.AX) refining margins are under pressure from a strong Australian dollar, CEO Julian Segal told reporters on Thursday.

Energy

He said refining margins were measured in U.S. dollars, so the firm's margins were now narrower when translated into local currency. (Reporting by Sonali Paul; Editing by Mark Bendeich)



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