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Dovish RBA Minutes Sees AUD Hit Fresh Session Low

AUD

The release of RBA minutes sees AUD/USD making new session lows. the pair last down 13 pips at 0.7742.The RBA said very significant monetary policy support would be needed for some time, adding that the CPI target was unlikely to be hit before 2024 based on wage growth. The bank also said policy settings are contributing to a lower AUD. All in all, a dovish set of minutes. Also released was Australia Q4 house price index, which rose above expectations at 3.6% Y/Y.

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