![Australian Dollar rises as high inflation drives RBA’s hawkish stance](https://editorial.fxstreet.com/images/Markets/Currencies/Majors/AUDUSD/australian-currency-8768154_Medium.jpg)
AUD/USD rises as high inflation drives RBA’s hawkish stance
The Australian Dollar extends gains as persistently high inflation prompts the RBA to delay rate cuts. RBA’s Meeting Minutes suggest an upside risk for May's Consumer Price Index (CPI). The US Dollar struggles as the softer US data raise expectations of the Fed reducing rates in 2024.