In Asian trade Friday AUD/USD strengthened toward 0.7035 after Australia's September CPI rose 4.3% YoY, above consensus 4.2% and August's 4.0%. The rise was driven by housing and transport costs and signals inflationary pressure above the Reserve Bank of Australia's prior expectations. ASX RBA rate tracker now prices roughly an 80% probability the RBA will lift rates to 4.85% at the next meeting, up from about 62% before the data. A Brown Brothers Harriman strategist said the print increases the

In Asian trade Friday AUD/USD strengthened toward 0.7035 after Australia's September CPI rose 4.3% YoY, above consensus 4.2% and August's 4.0%. The rise was driven by housing and transport costs and signals inflationary pressure above the Reserve Bank of Australia's prior expectations. ASX RBA rate tracker now prices roughly an 80% probability the RBA will lift rates to 4.85% at the next meeting, up from about 62% before the data. A Brown Brothers Harriman strategist said the print increases the case for another RBA hike and supports the AUD.