AUD/USD flows: Reversing early gains

AUD/USD initially spiked higher when the RBA meeting minutes suggest that tightening were still on the table and there were certain hawkish element in the minutes when market participants are anticipating a cut soon. However, the spike quickly reversed when news crossed the wire that Australian telecommunications giant Telstra will be slashing up to 9% of its workforce, further exacerbated by negative regional risk sentiment.

AUD/USD is trading 0.18% lower at 0.6655.