AUD held early gains after Australia CPI accelerated last month, reinforcing the growing view that interest rates will remain higher for longer. What’s next for AUD/USD and AUD/NZD?
The Australian dollar held early gains after consumer price inflation accelerated last month, reinforcing the growing view that interest rates will remain higher for longer.
Australia's CPI accelerated to 5.2% on-year in August, in line with expectations Vs. 4.9% in July, and 5.4% in June. While the monthly CPI figures tend to be volatile and not necessarily a good predictor of the quarterly CPI, which holds more relevance from the Reserve Bank of Australia’s perspective, stubbornly high inflation raises the risk that the RBA remains hawkish for the foreseeable future.
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