Australian Dollar gains as US Dollar remains weak after high-tier data release

AUD/USD pair rises to 0.6480 on Wednesday.

Aussie benefits from US Dollar weakness despite soft Australian CPI.

PCE data from the US meets expectations for inflation.

In Wednesday's session, the AUD/USD rose to 0.6480 as the US Dollar remained weak following the release of high-tier economic data. This comes despite Wednesday's publication of subdued Australian Consumer Price Index (CPI) inflation figures, which had previously limited the Aussie's rise. Nonetheless, the broader weakness in the Greenback continues to support the Australian Dollar.

The AUD/USD pair has struggled in recent trading sessions, weighed down by mixed Australian economic data, a hawkish Reserve Bank of Australia (RBA), and persistent US Dollar strength. The Aussie will still be sensitive to both local and American data as the monetary policy divergences between the RBA and the Federal Reserve (Fed) might shake the pair.