Australian dollar drops on dismal Q2 CPI figures

Australian dollar drops on dismal Q2 CPI figures

On Wednesday, the Australian dollar dived in Asia as consumer prices for the second quarter ruined hopes, with the Federal Reserve expected to unveil its views on rates soon to set the overall tone.

As Australia posted, CPI figures rallied 0.2%, which is below with a 0.5% revenue observed for the second quarter, with a 1.9% annual pace versus the expected 2.2%.

The currency pair AUD/USD sank 0.38% to $79/06, USD/JPY showed 111.87, decreasing 0.02%.

Estimating the American currency’s value versus a basket of six major rivals, the U.S. dollar index stood still at 93.92.

Overnight, the greenback didn’t change versus a basket of crucial currencies. It’s because the Fed’s two-day rate policy gathering overshadowed economic reports demonstrating an improvement in consumer optimism regarding the strength of the American economy.

In New Zealand, June’s trade balance extended to a deficit of up to NZ$3.66 billion, versus NZ$3.7 billion observed on year. 

The currency pair NZD/USD was worth 0.7421, jumping 0.05%.

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