Australian Dollar Higher After Economic Data & RBA Minutes

The Australian dollar ticked up a little against the US dollar and the Japanese yen today, lifted by positive domestic macroeconomic data and minutes of the latest central bank’s meeting.

The minutes of the Reserve Bank of Australia December meeting were rather hawkish, saying:

Members noted that recent domestic data had generally been positive.

At the same time, they stated that “the outlook for inflation may afford some scope for a further easing of monetary policy.” As for economic reports, the House Price Index climbed 2 percent in the September quarter from the June quarter while motor vehicle sales were up 1 percent in November after falling 3.7 percent during the previous month.

AUD/USD edged up from 0.7244 to 0.7255 and AUD/JPY rose from 87.63 to 87.82 as of 11:17 GMT today.

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