AUD/USD bounces off daily lows, as US inflation data dampens rate hike expectations

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• AUD/USD recovers from 0.6318 to trade around 0.6330s, up 0.22%.
• US core PCE at 3.7% YoY, below August’s data, with general inflation at 3.4%, in line with forecasts.
• Australian inflation above 5%, increasing the likelihood of another RBA rate hike in the near term.

AUD/USD bounces off daily lows reached at 0.6318 and aims higher, registering gains of 0.22%, after economic data from the United States (US), although showed prices remain elevated, failed to shift speculations for additional rate hikes. At the time of writing, the pair exchanges hands at around 0.6330s.