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AUD/USD Rate Clears March Low Ahead of Australia Inflation Report
AUD/USD clears the March low (0.7165) as it extends the series of lower highs and lows from late last week, but the update to Australia’s Consumer Price Index (CPI) may curb the recent selloff in the exchange rate as the headline reading for inflation is expected to increase for two consecutive quarters. AUD/USD appears to be tracking the recent weakness in the US stock market as it trades to a fresh monthly low (0.7135), and a further shift in investor confidence may keep the exchange rate under pressure as the Greenback benefits from the deterioration in risk appetite. As a result, the Relative Strength Index ... (full story)