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AUD Poised for Longest Weekly Winning Streak Since 2021 on Hot Inflation Data

Guavy AI Editorial Team
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USD AUD
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The Australian dollar is on track to record its longest weekly winning streak against the US dollar since 2021, thanks to hotter-than-expected inflation data.

Australia's consumer price index rose 3.6% year-on-year in the first quarter, beating market forecasts of 3.4%, and prompting traders to increase their bets on a Reserve Bank of Australia rate hike.

The RBA has repeatedly stated that it remains data-dependent, but this latest inflation figure complicates its path toward returning inflation to the 2-3% target band.

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