Australian Dollar edges up as RBA keeps rate hike option quite possible
The Australian Dollar (AUD) trades slightly higher against its major currency peers, except the US Dollar (USD), on Tuesday. In the European session, the Aussie pair is slightly down to near 0.7147.
The Australian Dollar (AUD) edged up today as the Reserve Bank of Australia (RBA) minutes from their July policy meeting suggested that an interest rate hike is "quite possible" if upside inflation risks materialize. Despite hawkish RBA minutes and officials warning of upside inflation risks, financial market participants do not see the Australian central bank raising interest rates immediately, with a slim 13% chance of a rate hike at the September 28-29 meeting.
The next major trigger for the AUD will be the Consumer Price Index (CPI) data for July, which is set to be released on Wednesday.
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