Aussie falls after RBA minutes

The Australian dollar fell on Tuesday, following the release of the RBA's meeting minutes that showed pessimism about the inflation rate.

The Reserve Bank of Australia's stressed during its meeting minutes that raising inflation to moderate levels may take years, which would put pressure on the labor market.

The bank emphasized that it would keep the interest rate at 10 basis points for the longest possible time until the inflation target is reached between 2% and 3%.

The bank also projected that the unemployment and inflation targets would not be reached before 2024 at least.

As of 16:36 GMT, AUD/USD fell 0.2% to 0.7765, after hitting a high of 0.7806 and a low of 0.7744.