ASX hits record high, dollar sinks as inflation cools

(Image: Getty)

Thu, 01 Aug 2024

By Derek RoseThe local share market has enjoyed its best performance in 20 months, surging to a record high for the ninth time this year after a cooling inflation report opened the door for interest rate cuts in 2024.The benchmark S&P/ASX200 index on Wednesday gained 139.1 points, or 1.75%, to 8,092.3, while the broader All Ordinaries rose 143.8 points, or 1.76%, to 8,320.4.The gains were the best since a 2.8% rally on Nov 11, 2022, and propelled the ASX200 past its previous record close of 8,057.9 set 15 days ago.The market was 0.6% higher...

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