• The Australian Dollar holds losses despite the RBA minutes highlighting the need for restrictive monetary policy.
• RBA Board members also emphasized that "nothing can be ruled in or out" regarding future monetary policy adjustments.
• The US Dollar may appreciate as the incoming Trump administration is expected to prioritize tax cuts and higher tariffs.

The Australian Dollar (AUD) remains under pressure following Tuesday's release of the Reserve Bank of Australia's (RBA) November meeting minutes. The minutes indicate that the RBA board remains cautious about the potential for inflation to rise further, emphasizing the need for restrictive monetary policy.

RBA Board members also indicate no "immediate need" to adjust the cash rate, though they left the door open for future changes, noting that nothing can be ruled in or out. Current forecasts are based on the technical assumption that the cash rate will remain unchanged until mid-2025.