RBA board member Harper said stronger-than-expected domestic demand and the return of capacity constraints have reopened the output gap
Trump told ABC News a Hormuz ceasefire extension and reopening deal could come within a week
While RBA's Harper sound hawkish, it is hard to see RBA to hike the fourth time in a row when monthly CPI has begin moderating. On the other hand ,we have Trump telling ABC that a deal is near, again. Market participants doe not seem to react to such cry of the wolf anymore.
AUD/USD is trading 0.04% higher at 0.7164.