Aussie Weakens vs. Greenback on Slower CPI Growth
The Australian dollar slipped today against its US counterpart after the report showed that the inflation rose with slower pare than was predicted.
The Australian Consumer Prices Index rose only 0.4 percent in December, while it was expected to grow at the 0.7 percent rate as in November. The slower pace of the prices’ growth reinforces worries about the impact of the natural disaster on the economy of Australia.
AUD/USD dropped from 0.9973 to 0.9897 as of 16:46 GMT today.
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Earlier News About the Australian Dollar:
- AUD Rises with Stocks, But Australian Economy Remains in Danger (2011-01-24)
- Chinese Inflation Fighting Weights AUD (2011-01-14)
- Disaster Prevented Aussie from Rising on Rally of Commodities (2011-01-12)
- Slump of Commodities Weakens Australian Dollar (2011-01-07)
- Recovering Economy Increased Appeal of Australian Dollar (2010-12-30)