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Australian Dollar Mover: Consumer Price Inflation Slowed in First Quarter


Jul.20.2013

Australia's dollar also known as Aussie, dropped as data showed the nation's inflation has slowed. Consumer Price Index in Australia (YoY), revealed a drop from 3.1% to 1.6% in Q1, providing the nation’s central bank with scope to lower borrowing costs.

Yields on 10-year and five-year debt reached all-time lows as traders increased bets that the Reserve Bank of Australia will cut its benchmark rate from 4.25 percent when it meets next month.

 

By Kiana Danial at ForexDiva.com

 

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