(Reuters) - Australia's strong currency struck a heavy blow to the nation's manufacturing industry on Monday when BlueScope Steel (BSL.AX), its largest steelmaker, unveiled plans to shut half of its steel-making capacity, cease exports and slash 1,000 jobs.
The soaring Australian dollar has inflicted an increasing toll on manufacturers, hitting earnings at a time when raw-material costs are also surging, in a trend already familiar to other nations with strong currencies such as Japan.
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