According to CoinMeta, data released by the Australian Bureau of Statistics on Wednesday showed that the consumer price index rose 4.3% year-on-year in September, higher than 4.0% in August and the market's expectation of 4.2%. This data strengthened market expectations for an interest rate hike by the Reserve Bank of Australia (RBA), pushing the Australian dollar to strengthen to around 0.7035 against the US dollar. Currently, the market expects the probability of the RBA raising interest rates to 4.85% at its next meeting to be close to 80%, up from 62% before the data was released. Strategists at Brown Brothers Harriman Bank pointed out that the latest inflation data exceeded expectations, providing a rationale for another interest rate hike by the RBA and supporting the Australian dollar.