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AUD/USD extends rally as buyers’ eye 0.6700 ahead of Aussie’s job data
The Australian Dollar surged more than 1% against the US Dollar on Wednesday after data showed that consumer inflation moderated in April, with the underlying Consumer Price Index (CPI) edging lower for the first time in six months. As Thursday’s Asian session begins, the AUD/USD trades at 0.6695, virtually unchanged. Inflation in the US began to show signs of cooling after posting consecutive readings of stalling, which sparked a change of tone amongst Federal Reserve officials. The US Department of Labor revealed that April’s CPI rose by 0.3% MoM, down from March’s 0.4% and estimates. The so-called core CPI, ... (full story)