AUD/USD holds above 0.6950 after dip from 0.6984 (five-week high in Asia)

0.6950 was Asian session base (0.6950 is a former resistance level)

Ascent to 0.6984 influenced by higher iron ore prices nL1N2Z70CS

More: nL4N2Z71B6. Iron ore is Australia's biggest export earner

Australian Q2 inflation data due 0130 GMT; CPI f/c +6.2% YY nL1N2Z6010

Hotter than f/c Aussie CPI would raise risk of 75 bps RBA hike next week