RBA Minutes: Cautious tone supports the notion of hold for now - BBH

Analysts at BBH notes that the RBA minutes were released and it noted that it has sought to balance the benefits for the economy of low rates with potential risks to household balance sheets. 

Key Quotes

“The RBA also noted “considerable uncertainty” with regards to momentum in the labor market.  Overall, the cautious tone supports the notion that the RBA is on hold for now.  Still, AUD is on track to test the May low near .7145, and a break below the .7200 area sets up a test of the January low near .6825.”