The Australian dollar was enjoying the view near 19-month peaks on Sept 25 after inflation data slowed much as expected and failed to move the dial on rate cuts. The currency had been boosted by hopes the latest package of Chinese stimulus measures might help revive demand there, supporting prices for Antipodean commodity exports.
The Aussie dollar has strengthened on inflation data.The Australian dollar was enjoying the view near 19-month peaks on Sept 25 after inflation data slowed much as expected and failed to move the dial on rate cuts.
The rally made bullish breaks of multiple former peaks and opens the way to 0.7030 and 0.7088 versus the greenback. Core inflation also slowed to 3.4 per cent, from 3.8 per cent, but crucially remained above the RBA band and a hurdle to rate cuts.
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