AUD/USD flows: No surprise from RBA Minutes

The RBA August meeting minutes show its member considered a rate hike but decided holding is better. Given the current inflationary dynamics, they see rates need to be at current level for longer but they are also reassessing such in every meeting. In short, untill we see a moderation of CPI towards 3%, there will not be a rate cut. 

The AUD/USD was not supported by such as it is already the consensus for the market. The push back for more tightening and the soft regional risk sentiment have pushed AUD/USD 0.21% lower at 0.6718.