AUD on a high after RBA minutes - Investec

Research Team at Investec, notes that the Australian Dollar rallied as the minutes from their recent rate cut meeting showed the RBA board members considered leaving the interest rate unchanged so they could await more information before finally opting to cut.

Key Quotes

“The RBA did not change its growth outlook but argued about whether to respond to the inflation data, making a follow up rate cut unlikely. As such currency and bond markets priced out the chances accordingly.”