RBA minutes: The board agreed that additional rate hikes were likely in the coming months

The Reserve Bank of Australia's minutes have been released and they state that the board agreed that additional rate hikes were likely in the coming months.

More to come...

AUD/USD update

AUD/USD's run to the upside has stalled but a break of 0.6900 is required where otherwise, a continuation beyond 0.6920 opens a risk of a bullish continuation for the day ahead.

About the RBA minutes

The minutes of the Reserve Bank of Australia meetings are published two weeks after the interest rate decision. The minutes give a full account of the policy discussion, including differences of view. They also record the votes of the individual members of the Committee. Generally speaking, if the RBA is hawkish about the inflationary outlook for the economy, then the markets see a higher possibility of a rate increase, and that is positive for the AUD.