Forex
Dollar Steady Ahead of US Inflation Data, Aussie Surges on Rate Bets
The US dollar remained relatively stable in Asian trading on Wednesday, ahead of the release of US inflation data later in the day.
Investors are watching the data closely as it will set the tone for the Jackson Hole symposium beginning this week.
The Aussie dollar climbed 0.3% to $0.7183, its highest level in three months, after data showed the trimmed-mean CPI gauge rose at a quicker-than-expected rate of 3.6% year-on-year.
Capital Economics analysts noted that underlying inflation is still showing no signs of slowing, leaving a risk that the RBA will deliver another rate hike over the coming months.