In recent weeks, I have often read that the inflation shock triggered by US tariffs will not be too severe, and that even if it is, it will only be temporary, with the possibility of interest rate cuts by the Fed.
The Reserve Bank of Australia (RBA) published the Minutes of its July monetary policy meeting on Tuesday, highlighting that the board agreed further rate cuts warranted over time and focus was on timing and extent of easing.
The Greenback started the new trading week on the back foot amid steady concerns on the trade front, particularly surrounding US-EU discussions and Fed independence jitters.