AUD/USD flows: RBA minutes considered 25bp hike

In RBA's December minutes, it showed that the Board considered whether to raise rates by 25bp or hold steady but decide not to as there are "encouraging signs" of progress on inflation. The remaining of the text showed data dependency remains key to future development and see inflation forecasted to be back in range by year end 2025, rather than mid 2025. It warrant some caution towards market participants who are anticipating an end to RBA's tightening and see the Aussie gaining.

AUD/USD is trading 0.17% to 0.6718.