AUD/USD rises amid easing US inflation, stays firm around 0.6650s

Share:

• AUD/USD surges 0.66%, eyes 0.6700 as US inflation shows signs of slowing, softening the US dollar.
• Despite weaker Chinese data and lower CPI, AUD finds support from diminished expectations of aggressive Fed hikes.
• Aussie’s surge and the US Dollar Index’s 0.48% drop reflect a reassessment of the Fed’s future tightening stance.

AUD/USD climbs sharply and eyes a test of the 0.6700 figure after economic data from the United States (US) showed that inflation is cooling, weakening the US Dollar (USD) despite solid data revealed on Thursday. Hence, the Australian Dollar (AUD) gets a respite, and the AUD/USD pair exchanges hands at 0.6658, gaining 0.66% after hitting a daily low of 0.6603.