Decision time is 0430 GMT

The FX week has been slugging owing to the US holiday but it will pickup dramatically in Asia-Pacific trading with the RBA decision just hours away at 0400 GMT.

Market expectations are that the central bank will taper despite the outbreak and lockdowns in Australia but those expectations aren't unanimous.

Goldman Sachs don't believe they will stray from the plan. Eamonn has an RBA preview here.

In terms of the current landscape in AUD/USD, there has been a dramatic bounce from the August lows as the market looks past the delta outbreak and counts on widespread vaccination by December.

Decision time is 0430 GMT

If we get a delay in the taper, it will be right back below 0.7400 but upbeat commentary and the RBA sticking to the plan would help to extend the recent gains above 0.7500.