Like the U.K. pound, the Aussie dollar was another session star after an unexpected uptick in core inflation suggested a slightly lower risk of an imminent interest rate cut by the nation's central bank.
The main headline consumer price index slowed to an increase of 1.3 percent annually in the first quarter, an expected move, from 1.7 percent in the fourth quarter. So-called core prices inched up to 2.3 percent annually from 2.2 percent.
But by keeping toward the southern end of the Reserve Bank of Australia's (RBA's) 2-3 percent comfort zone, today's inflation figures should keep risk of an imminent rate cut elevated. The RBA next meets on May 5.
