The Australian dollar has opened marginally higher in local trade, following the release of national inflation data.
At 6.30am AEDT the Australian dollar was at 105.46 US cents, up from yesterday’s local close of 105.39 US cents.
The local currency fell slightly yesterday after consumer price index (CPI) data - a key measure of inflation - came in weaker than expected. Australia's CPI rose 0.2 per cent in the December quarter, compared to economists' expectations of a 0.5 per cent rise.
The weaker number could encourage the Reserve Bank of Australia to cut the cash rate when it meets on February 5.
Source:
http://www.theaustralian.com.au/business/markets/australian-dollar-creeps-higher-following-cpi/story-e6frg94o-1226560539060
