The Australian dollar and bond yields jumped after a surprisingly strong inflation report stoked speculation the Reserve Bank may lift the cash rate again to tame above-target inflation that has survived the past 13 rate rises.
The Australian dollar popped 0.6 per cent higher to US65.25¢, having rebounded from a five-month low of US63.60¢ touched last week when the Middle East conflict escalated.
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Cécile Lefort is a markets reporter based in the Sydney newsroom. Cécile worked in New York and Hong Kong writing about global capital markets. Email Cecile at cecile.lefort@afr.com
