Data is here:

• Australia headline and core inflation above RBA target.

Trimmed Mean (core) was 0.8% q/q vs. 0.9% expected and prior 0.9%. This seems to be the narrative for the drip in the AUD.

Australia’s Treasurer Chalmers says the Treasury expects inflation to peak at higher levels.

RBA 25bp hike on May 5 is still live:

This article was written by Eamonn Sheridan at investinglive.com.