AUD/USD flows: Monthly CPI dropped to 2.1%

The monthly CPI for Australia dropped to 2.1% y/y, very close to the lower target band of RBA’s inflation target. What is more important is the fall of trimmed mean CPI past mid point of target range to 2.4% y/y, making sense of the previous cut from the RBA.

AUD/USD is trading 0.2% higher at 0.6502.