By Alun John and Gregor Stuart Hunter
LONDON/SINGAPORE, Aug 26 (Reuters) - The dollar edged higher but remained range-bound against major peers on Wednesday as investors awaited U.S. inflation data that could set the tone ahead of the Jackson Hole symposium of central bankers later this week.
The most notable mover was the Australian dollar, which hit $0.71865, its highest level in three months, after data showed the trimmed mean CPI gauge, the Reserve Bank of Australia's preferred measure of cost-of-living pressures, rose at a faster-than-expected annual rate of 3.6%.
It was last up 0.24%, just below that level.
"With underlying inflation showing no signs of slowing, there's still a risk that the RBA will deliver another rate hike over the coming months," Capital Economics ***** ysts wrote in a research note.
#inflation
LONDON/SINGAPORE, Aug 26 (Reuters) - The dollar edged higher but remained range-bound against major peers on Wednesday as investors awaited U.S. inflation data that could set the tone ahead of the Jackson Hole symposium of central bankers later this week.
The most notable mover was the Australian dollar, which hit $0.71865, its highest level in three months, after data showed the trimmed mean CPI gauge, the Reserve Bank of Australia's preferred measure of cost-of-living pressures, rose at a faster-than-expected annual rate of 3.6%.
It was last up 0.24%, just below that level.
"With underlying inflation showing no signs of slowing, there's still a risk that the RBA will deliver another rate hike over the coming months," Capital Economics ***** ysts wrote in a research note.
#inflation
2 months ago
