Aussie $ edges up as RBA reaffirms more hikes ahead, yen struggles

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Reuters UK

By Alun John HONG KONG (Reuters) – The Australian dollar rose on Tuesday after the central bank flagged more rate hikes were on the way, but the uptick was restrained by lower commodity prices, while the Japanese yen languished near a 24-year low. The Aussie was 0.3% higher at $0.69675, extending the previous day’s small gains, after Reserve Bank of Australia (RBA) Governor Philip Lowe signalled a lot more policy tightening ahead. Lowe said rates were still “very low” and it was important that higher inflation did not feed into public expectations and wage claims. RBA minutes from its June mee…

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