Australian dollar climbs to three-year high, than edges down, Inflation rises 0.6%; details inside

The Australian dollar surged to a three-year high against the US dollar on Wednesday, fueled by news of potential international travel by Australians and stronger-than-expected consumer price inflation. Annual inflation accelerated to 3.6%, with core inflation rising above forecasts, increasing expectations of a near-term interest rate hike by the Reserve Bank of Australia.