The Australian Dollar (AUD) continues its upward momentum, driven by the recent hawkish comments from Reserve Bank of Australia (RBA) Governor Michele Bullock. Bullock's confidence in the robustness of Australia's labor market and her acknowledgment of underlying demand contributing to inflation challenges have strengthened the AUD's position.
The RBA's November meeting minutes reinforce a cautious but tightening stance, recognizing a "credible case" against an immediate rate hike but emphasizing increased inflation risks. The decision on further tightening will be guided by data, with a focus on preventing any uptick in inflation expectations. Additionally, positive sentiment is bolstered by expectations of Chinese measures to support the real estate sector, providing additional support for the Australian Dollar.
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