• AUD/USD holds below 0.72 before US August CPI data at 1230 GMT

• 0.71505-0.71752 is Friday range-to-date (0.71505 is low since Sept 2)

• US CPI forecast up 0.4% MM, 3.4% YY. Core f/c up 0.2% MM, 2.4% YY

• Hotter prints could increase probability of Fed hike next week, lift USD

• 10-year UST yield rose to 4.97% in Asia, highest level since 2023

• Citi expects RBA to raise rates twice before 2027 (next decision Sept 29)

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(Robert Howard is a Reuters market analyst. The views expressed are his own)