Australian dollar boosted by weaker US data
THE Australian dollar has enjoyed a boost overnight after official figures showed the pace of inflation in the US slowed in June.
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THE Australian dollar has enjoyed a boost overnight after official figures showed the pace of inflation in the US slowed in June.
At 0630 AEST on Wednesday, the local currency was trading at 93.96 US cents, up from 93.93 cents on Tuesday.
The Australian dollar reached 94.24 US cents overnight, it’s highest level in almost two weeks, after figures from the US Labour Department showed higher petrol prices were the main reason why the consumer price index rose 0.3 per cent in June.
That was an easing from a hefty 0.4 per cent rise in May — the largest increase since February 2013.
Originally published as Australian dollar boosted by weaker US data
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