US inflation cools after 41-year high, Australian dollar surges, Telstra profit falls - ABC News

Telstra sees a drop in annual profit, but increases dividend for the first time in seven years. The ASX and Wall Street rally as cooling inflation eases interest rate hike fears, and the Australian dollar surges to 71 US cents as the greenback declines.

Telstra has seen a fall in profits for the year, but it has raised dividend for investors, and the ASX has soared on the back of cooling US consumer inflation. Key points:

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