⁍ The Australian dollar came under pressure on Tuesday as odds narrowed for further monetary policy easing by the country’s central bank.

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⁍ The RBA last cut the cash rate to an all-time low of 0.25% in an emergency meeting in March.

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⁍ The market is now awaiting minutes of the RBA’s Sept.1 policy meeting due out at 0130 GMT for clues about its future course of action.

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– The Australian dollar dropped to a one-week low against the New Zealand dollar on Tuesday as the market awaited the minutes of the Reserve Bank of Australia’s Sept. 1 policy meeting, which are due out later in the day. The Australian dollar hit a two-year high of $0.7413 on Sept. 1 as market pricing shifted rapidly for a cut to the cash rate to 0.1%, Reuters reports. Interest rate futures are almost fully pricing in a 15 basis point rate cut at the RBA’s Oct. 6 policy meeting. The RBA last cut the cash rate to an all-time low of 0.25% in an emergency meeting in March and has repeatedly said the benefits of taking rates deeper into record territory were limited. But at its September board meeting, Governor Philip Lowe hinted at additional policy measures to support an economy reeling from its worst contraction in almost a century. The market is now awaiting minutes of the RBA’s Sept. 1 policy meeting due out at 0130 GMT for clues about its future course of action.