AUD/USD shows a slight decrease on Monday but retains January highs near 0.6800.
RBA's hawkish stance and potential rate hike add momentum to AUD.
Australian labor data will dictate the short-term dynamics.
The Australian Dollar (AUD) experienced a mild correction against the USD in Monday's session, declining to 0.6760. After a four-day winning streak, the AUD adjusted its gains albeit the underlying fundamental factors hint at a possible continuation in the upward trend.
The Reserve Bank of Australia (RBA) despite several signs of economic weakness in the Australian economy, is viewed to be among the last G10 nations' central banks to initiate rate cuts due to stubbornly high inflation, a factor that might limit AUD's downside and extend its gains.
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