The Australian dollar rose on Wednesday after a series of falls against the yen and most of the peers. The support came after data showed consumer price inflation rose in the second quarter. CPI rose 0.6 per cent compared to the prior quarter putting in questions further interest rate cuts by the RBA in the near-term. A year-on-year second-quarter CPI rose by 1.6%. The central bank earlier in July opened the door to further cut its benchmark 1.0% rate. Meanwhile, the haven yen benefits from the ongoing uncertainties with BoJ leaving its policy steady. The pair is moving sideways, cautiously ahead of the Fed decision. It dipped below the 50 MA on a daily chart. RSI inched from the oversold area. Further cuts by RBA could drag the pair lower to 74.00 level in medium-term.