• AUD (+0.6%) trade well despite the softer risk tone

• RBA Governor continued to strike a hawkish tone, underpinned AUD

• Says "vigilant to inflation risks, will not hesistate to hike if needed"

• With the RBA looking to be one of the last central banks to cut rates

• This should keep AUD supported, particularly against NZD

• RBNZ pricing suggests 84% chance of a cut next week (Aug 12) 0#RBNZWATCH

• AUD/NZD likely to drift higher heading into the decision

• AUD/USD resistance resides at 0.6597/0.6601 (200/100DMAs)

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