• AUD/USD flat late Wed after hitting 0.7238 4-month high in London

• U.S.-Iran engaged in largest shipping attacks since war began

• Brent crude +3.8% to $101.67 a barrel, gold +1.1%, copper +0.7%

• U.S. Treasury bond buyback announcement underwhelms, UST yields higher

• Focus on U.S. inflation data: Aug PPI due Thur, CPI Fri (poll +0.4% m/m)

• AUD target remains 0.72825 50-month high, rally will accelerate above

• Overnight range 0.7210-38 support 0.7122 0.6920, resistance 0.72825 0.7661
AUD Daily 21/55/100-DMA

(James Connell is a Reuters market analyst. The views expressed are his own.)