FINPORT CURRENCY NOTE - Courtesy of Compass Global Markets.
The Australian Dollar has traded a tight range, as have most markets, in the absence of any notable economic data releases and as all eye's are on President Trump's trip to China.
Although the local unit had been the strongest of the G10 currencies, edging back to "fair value" following Tuesday's RBA meeting, a surprising drop in Home Loans data that was released this morning resulted in a 1/2% fall.
However, our real focus is on Chinese inflation figures, just released, that showed a continued uptick and in turn this should keep the A$ supported and confirm our favoured view of a gradual grind higher back to 0.80 cents.
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