Australian Dollar Falls as Consumer Inflation Misses Expectations

The Australian dollar dipped 1.2 percent against the US dollar and the Japanese yen during the Wednesday’s trading session as Australia’s consumer inflation trailed economists’ forecasts.

The Australian Bureau of Statistics reported that Consumer Price Index rose 0.5 percent in the September quarter from the June quarter. Analysts had predicted inflation to stay at the same 0.7 percent level as in the previous reporting period. Excluding the most volatile components, the CPI rose 0.3 percent, also below the previous quarters’ growth and forecasts.

AUD/USD dropped from 0.7198 to 0.7132 and AUD/JPY fell from 86.67 to 85.91 as of 15:42 GMT today.

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