Australian dollar breaks post flat record after CPI data
THE Australian dollar has cracked new highs above 110 US cents after the release of official inflation figures.
THE Australian dollar has cracked new highs above 110 US cents after the release of official inflation figures.
The consumer price index (CPI) rose 0.9 per cent in Australia in the June quarter, for an annual inflation rate of 3.6 per cent, slightly higher than economists' forecasts.
The Australian dollar was trading at 109.60 just prior to the data release at 11:30 (AEST), but quickly rose to a post float high of 110.62 cents. At 11:42 (AEST), it was at 110.50 cents.
The domestic currency reached its previous high, since the currency was floated in December 1983, on May 3 this year of 110.11 US.
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