Australian Dollar Rises After Australia's CPI Data Renews RBA Rate-Hike Bets
Dow Jones
1 hour ago
0546 GMT - Australian dollar rises against its U.S. counterpart after Australia's CPI data. "Australian inflation came in hot enough to revive RBA hike expectations," StoneX's Matt Simpson says in commentary. The senior market analyst cites data released earlier showing Australia's trimmed mean CPI rose 0.5% on-month in July, with annual inflation rate steady at 3.6%. "The timing of today's report carries extra weight, given yesterday's [RBA meeting] minutes revealed that some members genuinely considered voting to raise the cash rate in August," Simpson adds. Australian dollar rises 0.3% to US$0.7181 after earlier touching US$0.7186, its highest intraday level since June 2, LSEG data show.
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