Inflation Slows in Australia, AUD Drops for Second Day

The Australian dollar today extended its drop for the second day after the government report showed the inflation slowed in the third quarter of this year.
The Australian consumer price index fell to 0.6 percent in the third quarter from 0.9 percent in the second quarter. The leading index declined 0.1 percent. The fundamentals confirmed the economic slowdown and reinforced the prospects for an interest rate cut by the central bank.
AUD/USD fell from 1.0426 to 1.0367 as of 5:22 GMT today. AUD/JPY declined from 79.33 to 78.81.

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