 Australian Dollar surged broadly in Asian session following a much stronger-than-expected monthly CPI report, sparking speculation that RBA might return to rate hikes in August. Comments from a top RBA official also indicated that the central bank is vigilant about upside risks to inflation. The upcoming inflation reports for June and the more critical Q2 data will be crucial for RBA's next move. Even if there isn't another rate hike, it's clear that interest rates will need to remain high for longer. Canadian Dollar is following Aussie as the second strongest currency, continuing to benefit from stronger-than-expected Canadian CPI data released overnight. Dollar is currently the third strongest, supported by renewed weakness in Euro and Yen. Euro is at the bottom of the performance chart along with Swiss Franc, followed by Yen. British Pound and New Zealand Dollar are positioned in the middle. | 
