SYDNEY: The Australian dollar slipped on Wednesday for a second consecutive session after underwhelming inflation figures supported expectations of a benign interest rate outlook for months to come.
The Australian dollar dropped a quarter of a US cent to US$0.7517, having briefly popped as high as US$0.7557. Strong support was found at 75 US cents, with resistance at the 200-day moving average of US$0.7612. The Aussie has lost a full US cent since hitting a peak above 76 US cents last week. It lost some momentum after key measures of core inflation stayed stubbornly short of the Reserve Bank of Australia’s (RBA) 2 to 3 per cent target band at 1.8 per cent.
