The local share market finished higher after a domestic inflation report came in significantly cooler than expected, likely squashing chances of another rate hike next week - or perhaps even this cycle.
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The benchmark S&P/ASX200 index finished up 20.1 points, or 0.29 per cent, to 7,035.3, while the All Ordinaries gained 22.7 points, or 0.31 per cent, to 7,245.8.
The Australian dollar was buying 66.44 US cents, from 66.21 US cents at Tuesday's ASX close. It had traded as high as 66.77 US cents, a fresh four-month high.