MUFG’s Michael Wan reports the Reserve Bank of Australia kept its policy rate at 4.35% in a unanimous decision. AUD/USD initially dipped on the statement but later rebounded as Governor Bullock reiterated hawkish inflation concerns. MUFG’s global team expects AUD/USD to move gradually above 0.70, driven mainly by risk sentiment, Fed rate cuts and a weaker Dollar. RBA steady, currency outlook firmer"The Reserve Bank of Australia (RBA) kept its policy rate at 4.35% yesterday in a unanimous decision." "The RBA nonetheless remained cautious about other key external risks, such as larger or more persistent negative effects of the Middle East conflict."