Aussie Dollar Rises on Stronger CPI Data than Forecast

The Australian dollar strengthened against other major currencies in the Asian session on Wednesday after Australia's consumer prices data for July was released.

Data from the Australian Bureau of Statistics showed that the Consumer Price Index (CPI) increased by 3.5 percent year over year (YoY) in July, down from 3.8 percent growth in June.

This surpassed market predictions, which had forecast a 3.2 percent print for the reported period.