The Australian dollar strengthened by as much as 0.9% after the release of the Reserve Bank of Australia’s May monetary policy meeting minutes.
The currency is up by 0.4% at 0.7317 as of 7:57 a.m. ET.
As for the rest of the world, here’s the scoreboard:
- The British pound strengthened by as much as 0.6% at 1.4481 after UK inflation slowed for the first time since September. Consumer prices in the UK rose 0.3% year-over-year in April, down from the 0.5% gain in March . This was the first time in eight months that UK price gains slowed from their previous month.
- The Japanese yen is weaker by 0.4% at 109.43 per dollar. “Speculators in the futures markets are holding a gross and net long yen position that is near record levels,” wrote Marc Chandler, the global head of currency strategy at Brown Brothers Harriman, in a morning note to clients.
- The dollar index is little changed at 94.60 ahead of a busy day in economic data. CPI, housing starts, and building permits will be released at 8:30 a.m. ET. Later on, we’ll have industrial production and capacity utilization at 9:15 a.m.
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