AUD/USD lower after RBA left its cash rate unchanged and changed wording on future moves

The Reserve Bank of Australia decision post is here:

• RBA announce on hold cash rate at 4.35%, as expected

In it I noted:

• The RBA has dropped the wording that a further hike “cannot be ruled out”.

Now this

• “The path of interest rates that will best ensure that inflation returns to target in a reasonable timeframe remains uncertain and the Board is not ruling anything in or out”.Which tilts a little less hawkish. And indeed by not ruling ANYTHING in or out, I guess they may even cut? Currently expectations for the first cut centre on September.

AUD/USD seems to think so, lower after the statement:

This article was written by Eamonn Sheridan at www.forexlive.com.