The Aussie remains strongly bid as the RBA minutes displayed an optimistic view on the economy, while talked down slightly on the AUD level and left more scope for easing in the upcoming months.
Overnight, the dollar remained broadly lower against the other major currencies in quiet trade on Monday, as markets were jittery after major oil producers failed to reach an agreement on an output freeze and as Friday’s downbeat U.S. data continued to weigh.
The AUD/USD pair keeps gains and consolidates near yearly highs as broad based US dollar weakness also helps the bullish run in the pair. Next on tap for the major remains the US housing data and RBA Stevens speech scheduled later in the day, which may provide next direction on the prices.
The reports underlined the view that the Federal Reserve is likely to stick to a cautious approach on future interest rates increases.