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fxJul 29, 2026, 1:44 AM

AUD/USD Extends Decline as Soft Inflation Data Dents Rate Hike Bets

The Australian dollar fell for a second straight day, slipping to around 0.6970, after softer domestic CPI data tempered expectations for further rate increases.

AUDUSD

The Australian dollar continued to weaken against its US counterpart on Wednesday, with AUD/USD dipping to around 0.6970 during Asian trading. This marks the second consecutive session of losses for the pair.

The decline followed the release of Australia's latest Consumer Price Index, which pointed to softer inflation. The data prompted traders to scale back bets on additional interest rate hikes by the Reserve Bank of Australia, undermining support for the Aussie.

With rate expectations cooling, the Australian dollar remains under pressure, with attention now turning to upcoming economic releases for further direction.

Source: FXStreet Forex News