The Australian dollar gained in the wake of mild inflation data as underlying prices dashed expectations for a near-term rate cut.
AUD/USD traded at 0.7981, up 0.57%, while USD/JPY changed hands at 118.14, up 0.25%. EUR/USD edged down to 1.1335, down 0.39%. The single currency hit 11-year lows against the dollar on Monday in the wake of a sweeping election victory for the anti-austerity Syriza party in Greece.
Australia said fourth quarter CPI rose 0.2% quarter-on-quarter and 1.7% year-on-year, below expectations of up 0.3% and up 1.8% respectively and well below the Reserve Bank of Australia's 2% to 3% inflation target.
But underlying inflation - the most important number watched by the market and the Reserve Bank - was more than expected at a gain of 0.7% and is likely to cool expectations for a near-term cash-rate cut.
Earlier the Westpac-MI published its leading index for December, which was unchanged at 97.89, breaking a pattern of sub-trend growth heading into 2015.
Read more Click here / www.trade4x.net
AUD/USD traded at 0.7981, up 0.57%, while USD/JPY changed hands at 118.14, up 0.25%. EUR/USD edged down to 1.1335, down 0.39%. The single currency hit 11-year lows against the dollar on Monday in the wake of a sweeping election victory for the anti-austerity Syriza party in Greece.
Australia said fourth quarter CPI rose 0.2% quarter-on-quarter and 1.7% year-on-year, below expectations of up 0.3% and up 1.8% respectively and well below the Reserve Bank of Australia's 2% to 3% inflation target.
But underlying inflation - the most important number watched by the market and the Reserve Bank - was more than expected at a gain of 0.7% and is likely to cool expectations for a near-term cash-rate cut.
Earlier the Westpac-MI published its leading index for December, which was unchanged at 97.89, breaking a pattern of sub-trend growth heading into 2015.
Read more Click here / www.trade4x.net
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