Aussie Dollar Gains on Lower-than-Expected CPI Growth

The Australian dollar strengthened against other major currencies on Wednesday after data from the Australian Bureau of Statistics showed a 3.5 percent year-over-year increase in the Consumer Price Index (CPI) for July.

This rate is down from June's 3.8 percent growth, but still higher than the predicted 3.2 percent print.

The Australian dollar's gain was seen in the Asian session, with no details on the market's reaction to the data provided by the source.