Crossword Genius

It's no good either way (3)

Ross

I believe the answer is:

dud

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'either way' is the definition.

I cannot understand how the rest of the clue works.

Can you help me to learn more?

(Other definitions for dud that I've seen before include "A palindromic failure" , "Failing in its function" , "Bullet that fails to fire" , "Just a palindromic flop" , "Defective" .)

I've seen this clue in the Evening Standard.
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