AUD/USD jumps after Australian CPI data

FXstreet.com (Córdoba) - The AUD/USD rose strongly following inflation data from Australia and jumped from 0.8786 to 0.8855 in seconds, reaching the strongest level since last Thursday, when the employment report was released.

According to the Australian Bureau of Statistics the Consumer price index rose at a rate of 0.8% during the fourth quarter; surpassing analysts expectations for a 0.5%.

On Tuesday the AUD/USD finished practically unchanged after finding resistance at 0.8840 and being unable to consolidate above 0.8800. It was the first time for the AUD/USD not reaching mutli-year lows after four trading days. Following higher-than-expected inflation data the Aussie jumped and at the moment of writing is holding above 0.8840.

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