Australian dollar jumped higher after the Reserve Bank of Australia +25bp rate hike

The post on the Reserve Bank of Australia policy decision is here:

Australia - RBA raises the cash rate by +25bp to 3.35%, as expected

The statement from Reserve Bank of Australia Governor Lowe sounded a hawkish note, stating cleary the Board expects further rate hike increases (i.e. more than one) are to come. The RBA inflation Inflation Inflation is defined as a quantitative measure of the rate in which the average price level of goods and services in an economy or country increases over a period of time. It is the rise in the general level of prices where a given currency effectively buys less than it did in prior periods.In terms of assessing the strength or currencies, and by extension foreign exchange, inflation or measures of it are extremely influential. Inflation stems from the overall creation of money. This money is m Inflation is defined as a quantitative measure of the rate in which the average price level of goods and services in an economy or country increases over a period of time. It is the rise in the general level of prices where a given currency effectively buys less than it did in prior periods.In terms of assessing the strength or currencies, and by extension foreign exchange, inflation or measures of it are extremely influential. Inflation stems from the overall creation of money. This money is m Read this Term target band is 2 to 3%. The CPI is WAY above that and in today's statement the Bank said it did not expect the CPI to fall to even 3% until 2025. This'll explain the multiple rate hikes yet to come.

This is a 1 minute candle chart of AUD/USD. If you are in bed staring at your phone it'll give you a picture of the FX response.