The Australian dollar gained today against its other most traded peers with the help of inflation data. The solid report improved the monetary policy outlook, giving additional support to the currency.
The Consumer Price Index rose 0.4 in the December quarter of 2015 from the previous three months while the trimmed mean CPI was up 0.6 percent. Both readings were above market expectations. The helpful data reduced chances for an interest rate cut at the next week’s policy meeting of the Reserve Bank of Australia.
AUD/USD rallied from 0.7003 to 0.7061 and AUD/JPY rose from 82.93 to 83.21 as of 13:52 GMT today.
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