RBA minutes up next - RBS

FXStreet (Bali) - Brian Daingerfield and Paul Robson, FX Strategist at RBS, share their view on the upcoming RBA minutes release later today, noting that greater concern about AUD strength may be elaborated.

Key Quotes

"The RBA June meeting minutes are the most notable event. The RBA did hint at rising angst about the strength of the currency by adding to its June statement that the currency remains historically high “particularly given the further decline in commodity prices.”

"On this point, weak iron ore prices in China seem to have had a larger impact on Australian interest rates than the currency, which has remained resilient. Greater concern about FX strength may be elaborated in the minutes."