Aussie dollar falls against a strong U.S. inflation data

Dhaka, Sept. 19 (NsNewsWire) — The Australian dollar has lost ground against the greenback, which rose sharply on the back of a strong U.S. inflation data.

At Asian open on Monday, the local unit was trading at 74.81 U.S. cents, down from 75.14 U.S. cents on Friday, reports Xinhua.

Elias Haddad, senior currency strategist of the Commonwealth Bank of Australia, said in a research note that the Aussie dollar will be influenced by two events this week,the Reserve Bank of Australia Septembers minutes of meeting to be held on Tuesday and the the parliamentary testimony by new RBA Governor Philip Lowe on Thursday.

In our view, the Australian dollar will trade within a 74.02 U.S. cents to 75.98 U.S. cents range this week, Haddad said.

At 0923 local time (AEST), the local unit was trading at 75.01 U.S. cents.