AUD/USD Rebounds Toward 0.7010 Following Hawkish RBA Minutes Signaling Further Rate Hikes

AUD/USD rose 0.3% to trade around 0.7010, testing its 20-day EMA amid US dollar softness and hawkish policy cues. The advance followed the release of the Reserve Bank of Australia's September meeting minutes, which revealed a unanimous decision to lift the cash rate by 25 basis points to 4.60%. Policymakers explicitly kept the door open for additional tightening, citing persistent domestic capacity constraints, rising fuel costs, and risks of lagging behind global peers. While swap markets price just 4 basis points of tightening for November, Goldman Sachs noted the minutes lowered the bar for an upcoming hike.