The Australian dollar got smoked on the weak inflation report

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Australia’s inflation data for the September quarter is out, and it’s below market expectations.

With core inflation at 2.15%, it’s the lowest annual inflation rate since the June quarter of 2012.

The case for a 25 basis point interest rate cut at next week’s RBA meeting has strengthened, rising to more than 50%.

The increased expectation for lower interest rates has seen the Australian dollar tumble, not only against the US dollar but all major currency pairs.

Here’s the current Aussie dollar scoreboard.

  • AUD/USD 0.7126 , -0.0062 , -0.86%
  • AUD/JPY 85.73 , -0.85 , -0.98%
  • AUD/CNY 4.5262 , -0.0394 , -0.86%
  • AUD/EUR 0.6458 , -0.0048 , -0.74%
  • AUD/GBP 0.4654 , -0.0045 , -0.96%
  • AUD/NZD 1.0560 , -0.0056 , -0.53%

The AUD/USD currently buys .7126, a decline of 0.86% for the session. It has now lost close to 1.5 cents from Tuesday morning’s opening level.

Here’s the chart, via Investing.com.

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