The Australian dollar, paired with the US dollar, has entered positive territory. The current AUDUSD exchange rate stands at 0.6701.
The Aussie has distanced itself from its four-week low. It achieved this even after the latest inflation statistics, which showed signs of cooling prices.
In November, Australia's Consumer Price Index (CPI) rose by 4.3% year-over-year, marking a slowdown compared to the 4.9% increase in October. The current reading is the lowest since January 2022.
It appears that the Reserve Bank of Australia will not need to raise the interest rate further despite the strong positions of the services sector.
The current interest rate stands at 4.35% per annum.