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AUD/USD drops to near 0.6700 on less-hawkish RBA minutes
The AUD/USD pair has slipped to near 0.6705 amid the release of the less hawkish Reserve Bank of Australia (RBA) minutes. The Board reiterated that further tightening of the POLICY would likely be required given inflation was still too high, the labor market tight and business surveys showed solid activity. RBA policymakers considered only a 25 basis points (bps) rate hike as a viable option for March’s monetary policy. Investors should be aware of the fact that RBA Governor Philip Lowe hiked its Official Cash Rate (OCR) by 25 bps consecutively for the fifth time to 3.60%. Also, it was the 10th consecutive interest ... (full story)