Aussie heads north on major bank minutes outlook

Aussie heads north on major bank minutes outlook

On Tuesday, the Australian dollar grew after the country’s key financial institution minutes painted a probable stronger than expected jump spurt in the approaching year in rather a light data day with North Korea somewhat toned down on launching missiles at the US territory Guam.

The Reserve Bank of Australia reiterated its warning on leaping household debt because of a macro-economic risk, though suggested that "above potential" economic surge was probable ahead without indicating any change in its steady interest rate views, as follows from the board meeting minutes of  its August gathering issued on Tuesday.

The currency pair AUD/USD hit 7871, soaring 0.23%, after the minutes. Meanwhile, USD/JPY reached 110.20, ascending 0.50%.

Estimating the greenback’s value versus a trade-weighted basket of six crucial currencies, the US dollar index rallied 0.05% boasting a reading of 93.39.

Overnight, the US currency was still broadly higher versus the other key currencies in subdued trade on Monday because financial markets kept digesting Friday’s American inflation data. Moreover, geopolitical tensions between America and North Korea seemed to have relived.

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