The AUD/USD rose 0.22% on Wednesday after Australia's trimmed mean CPI, the Reserve Bank of Australia's (RBA) preferred measure of inflation, rose to an annual rate of 3.6%, exceeding expectations. Analysts believe that given the lack of slowdown in underlying inflation, the RBA still faces a risk of further rate hikes in the coming months. Meanwhile, the U.S. dollar edged higher as investors awaited U.S. inflation data later today and signals from the Jackson Hole central banking symposium later this week.