Consumer prices in Australia increased at a slightly faster pace than expected in Q1. They rose 0.9% on the quarter, above call for a 0.8% increase to follow the 0.5% gain in the final quarter of 2009. Meanwhile, annually, consumer prices rose by 2.9% versus expectations for a 2.8% increase after their 2.1% rise in Q4. Following the above-consensus data, which suggest that another rate hike from the Reserve Bank of Australia is now more likely, AUD/USD firmed by almost 0.2 U.S. cents to hit $0.9192USD, a new intraday high.
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