AUDUSD Extends Decline; Australia CPI Accelerates In August

Published on Sep 27, 2023 11:31

The Australian dollar extends losses against the dollar on Wednesday even as inflation accelerated in August. Consumer price index inflation grew 5.2%, as expected, in the 12 months to August, data from the Australian Bureau of Statistics showed, comfortably above the Reserve Bank of Australia`s (RBA) annual 2% target. The reading climbed from a 4.9% rise seen in July, but still remained well below annual highs. However, strength in dollar overseas tracking surge in benchmark US treasury yields is keeping the pair under pressure. The dollar index is hovering at fresh 10-month highs, around 106 mark. AUDUSD pair is currently seen recovering from day`s low of 0.6394 and is quoting at the moment at 0.6399, down 0.2% on the day.