AUD dips slightly after rally, remains poised for gains amid strong inflation and hawkish RBA stance.

The Australian dollar dipped slightly to around 0.6700 after reaching a one-year high near 0.6727, as profit-taking followed a recent rally fueled by strong inflation data and hawkish Reserve Bank of Australia sentiment. Despite the pullback, the currency’s long-term outlook remains positive, with potential upside toward 0.6910 if key support holds. The US dollar steadied near 98.00, with markets awaiting Fed minutes and cautious sentiment around Bank of Japan signals. The New Zealand dollar also rose, consolidating above 0.5800, with gains potentially extending to 0.5950 if momentum continues.