Forex
AUD Surges as RBA Minutes Signal Rate Hike Bets
The Australian Dollar gained over 0.20% on Tuesday as the Greenback edged lower, following minutes from the Reserve Bank of Australia's (RBA) last meeting that suggested the board is close to raising rates.
According to the RBA minutes, the bank is focused on tackling inflation and emphasized upside inflation risks.
The upcoming release of Australia's Consumer Price Index (CPI) for July, expected to drop from 3.8% to 3.2% YoY, will be closely watched by investors.