AUD Surges on Hawkish Fed Expectations and Strong RBA Tone

The Australian Dollar (AUD) has staged a strong recovery against the US Dollar (USD), rising by 0.22% to around 0.7175 during the European trading session on Friday.

This gain comes after a significant fall in the previous day, driven by a jump in the US Dollar following strong United States (US) Producer Price Index (PPI) data for August.

The PPI data showed that headline producer inflation accelerated to 5.3% Year-on-Year (YoY), while core PPI grew by 4.6%, as expected.