The aussie (FXA) pops to its highest level since after minutes from the RBA's October 1 policy meeting show the bank shifting to a more neutral bias going forward. "The effect of low interest rates was evident across a range of indicators and had further to run,” according to the release.
The bank on October 1 left its benchmark rate unchanged at a record-low 2.5% after cutting rates 225 basis points over the previous two years.
The aussie is ahead 0.4% to $0.9523.
Shares in Sydney (EWA) rose 1% overnight.