AUD/USD started the week on the back foot near 0.6650. Small gains in the Dollar were enough to keep AUD under pressure. The RBA Minutes come next on the domestic docket. AUD/USD kicked off the new trading week with modest losses, hovering around the 0.6650 zone on the back of a mild upside bias in the US Dollar on Monday.
The bank remains focused on inflation and is hesitant to ease policy unless necessary, emphasizing that inflation is still above target and reiterating its commitment to bringing inflation within the target range. The contrast between potential easing by the Fed and the RBA's likely prolonged restrictive stance could support AUD/USD in the coming months.
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