Australian dollar going strong after CPI gains

THE Australian dollar has maintained most of Wednesday’s gains on the back of stronger-than-expected inflation figures.

The Australian dollar rallied on Wednesday after official inflation figures.

THE Australian dollar has maintained most of Wednesday’s gains on the back of stronger-than-expected inflation figures.

At 0630 AEST on Thursday, the local currency was trading at 77.63 US cents, down from 77.78 cents on Wednesday.

The Australian dollar rallied on Wednesday after official figures showed underlying inflation rose 0.6 per cent in the March quarter for an annual rate of 2.35 per cent, which was slightly higher than expected.

CURRENCY SNAPSHOT AT 0630 AEST ON THURSDAY

* 77.63 US cents, from 77.78 cents on Wednesday

* 93.07 Japanese yen, from 92.96 yen

* 72.38 euro cents, from 72.23 euro cents

(*Currency closes taken at 1700 AEST previous local session)

Source: IRESS

Originally published as Australian dollar going strong after CPI gains