Home›Forex›Major Pairs›Australian Dollar slips toward 0.6950 after softer Aug…

Australian Dollar slips toward 0.6950 after softer August inflation

FXStreet cited Brown Brothers Harriman, noting the trimmed mean stayed steady for a third month, easing expectations for additional RBA tightening.

Reported · Written up by our desk · Major Pairs

FXStreet reported that the Australian dollar weakened toward two month lows near 0.6950 after an August CPI print came in softer than expected, which weighed on RBA cash rate futures.

According to commentary attributed to Brown Brothers Harriman, headline CPI rose less than consensus, while trimmed mean inflation was steady for a third month, contributing to reduced expectations for further RBA interest rate hikes.

FXStreet also noted that Chinese PMI data did not provide support for the Australian dollar, even as a pause in the US dollar advance limited broader pressure.

More like this

Sources