AUD/USD jumped above 0.6500 on higher than forecast inflation data for Q1 of 2024

Not only were the result higher than consensus forecasts they also came in higher than the RBA had been forecasting.

Which is what makes RBA rate cuts this year doubtful.

Australian dollar jumped:

1 minute candles with arrow pointing to data release (in case of any doubt!)

This article was written by Eamonn Sheridan at Source