India, Aug. 27 -- The Australian dollar strengthened against other major currencies in the Asian session on Wednesday, following the release of Australia's consumer price inflation accelerating more than expected to a one-year high in July.
Data from the Australian Bureau of Statistics showed that the CPI indicator advanced 2.8 percent year-on-year in July, following June's 1.9 percent rise, reported. This was the strongest since July 2024, when inflation was 3.5 percent and also remained above economists' forecast of 2.3 percent.
Data came a day after the minutes of the Reserve Bank of Australia's board meeting held in August suggested that some further reduction in the cash rate over the coming year is likely and the pace of the future ...