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JP Morgan said the Australian dollar's appreciation is becoming a problem for inflation and growth. Consumer goods import prices were very weak in the latest CPI data, and the trade-weighted index is no longer supporting services exports.
The bank expects AUD strength to weigh on CPI in the third quarter.
A persistently strong Aussie tends to pressure the RBA to stay accommodative and reduces the competitiveness of Australian exports, though it has little direct impact on feed commodity prices.
businessinsider.comJul 26, 2017Not 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.
