ING’s Chris Turner reports that the Reserve Bank of Australia kept rates at 4.35%, while Governor Michele Bullock delivered a hawkish message, stressing upside inflation risks and revealing that a hike was discussed. ING’s FX team does not expect further RBA hikes this year but still projects AUD/USD rising toward 0.73 by year-end. Hawkish RBA and AUD/USD upside"The Reserve Bank of Australia left rates unchanged at 4.35% today. Some argue that the added description of the policy as 'somewhat restrictive' means that the RBA is less likely to hike in future." "Our team does not see a further RBA rate hike this year, but from an FX perspective, we still see AUD/USD heading up to 0.73 by year-end."