The Australian dollar slipped to a three-week low on firm US inflation data, which ignited bets on an interest rate hike.
Based on official figures, the core Consumer Price Index added 0.3% in April, the largest hike since January 2013.
The Aussie finished at 71.17 euro cents from Friday’s 71.07 euro cents, and 78.14 US cents from 79.12 US cents.
The recent US inflation data glided the US dollar higher versus “Group of 10 currencies, with the biggest selloff impacting the euro,” said Stephen Innes, Senior Trader at OANDA.
The material has been provided by InstaForex Company – www.instaforex.com