June 26, 2024 – Written by David Woodsmith
STORY LINK Australian Dollar Bid as CPI Beat Opens the Door for a Rate Hike
Inflation has risen steadily from a February low of 3.4% and will be a major concern for the RBA.
Markets have priced in a 50% probability of a rate hike by September and this has boosted the Australian Dollar.
‘Risk off’ is the theme on Wednesday as stock markets in Europe and the US drift lower by around –0.3% ahead of the US open. Meanwhile, the US dollar is bid and both EURUSD and GBPUSD are both down –0.45%….
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