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The Australian dollar rose about 0.5% to $0.6520 after first-quarter consumer prices rose 1.0%, above forecasts. Bond yields jumped and markets priced out nearly all chances of a Reserve Bank of Australia rate cut this year.
Hotter inflation supports a stronger Aussie and higher-for-longer rates, a currency move with limited direct effect on feed grain or meal prices.
brecorder.comReutersApr 24, 2024Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
