On Thursday, the AUD/USD gained by 0.11% to end the day at $0.67787. Better-than-expected employment figures from Australia fueled bets on further RBA rate hikes, supporting a brief Aussie dollar return to $0.68. While the RBA minutes revealed the willingness to push the cash rate higher, Board members expected inflation to soften and capacity pressures to ease. However, the employment numbers suggest that capacity pressures may linger and fuel a pickup in wage growth. Tight labor market conditions lead to a pickup in wage growth due to a lack of skilled labor. Wage growth translates into increased spending power ... (full story)