The Australian greenback strengthened 0.5 per cent in opposition to its US counterpart after the nation’s shopper value index got here in stronger than anticipated.
The foreign money rose to A$0.67 per greenback, whereas the nation’s benchmark S&P/ASX 200 index shed 1 per cent. Retailer Harvey Norman led losses with a 7.4 per cent drop.
On Wednesday the Australian Bureau of Statistics reported that inflation rose greater than anticipated in Might, complicating the central financial institution’s path to rate of interest cuts.
Elsewhere within the area, Japan’s Topix added 0.7 per cent to return inside touching distance of its file excessive set in March.
Chinese language and Hong Kong markets edged down whereas the Indonesian rupiah weakened 0.4 per cent in opposition to the greenback.
