AUD has crept higher in reaction to..........>

AUSSIE: AUD has crept higher in reaction to domestic CPI data, but only

modestly. Headline CPI printed at +1.8% Y/Y, above mkt expectations but below

the RBA's. Trimmed mean inflation was +1.6% Y/Y, overshooting consensus and

printing in line with RBA forecasts.

- Quick reaction from economist with Oxford Eco notes that "most of the

acceleration came from food (drought-related) and fuel, but this was largely

offset by still-subdued housing cost inflation."

- AUD/USD operates +7 pips at $0.6769, familiar technical picture still in play.

- AUD/NZD trades at NZ$1.0352, 23 pips better off with both sides of the pair

sitting at the opposite ends of the G10 pile. The rate is narrowing in on the

nearest resistance level, the Jan 27 peak at NZ$1.0357.

- AUD/JPY has added 9 pips and trades at Y73.90. A break above the Y74.00 mark

would clear the way to the Jan 24 low of Y74.43.