The Australian dollar traded around $0.623 on Tuesday, slightly above its recent two-year low of $0.619.
Australian dollar remains steady around $0.62
This followed the release of minutes from the Reserve Bank of Australia's December policy meeting, which emphasized the need to maintain restrictive monetary policy for now. The board reiterated that future rate decisions would be guided by incoming data, noting that while inflationary pressures have eased, uncertainties remain due to global factors and persistently high services inflation.
Data showed increased consumption
Recent economic data indicated increased consumption in October and November, though it is unclear if this represents a sustained recovery or a seasonal uptick driven by pre-holiday spending. Currency fluctuations may also be influenced by thin holiday trading volumes, which can amplify price swings and heighten market volatility.
