The Australian dollar advanced to a fresh 24-year high against the US currency on Tuesday, after the minutes from the Reserve Bank of Australia's (RBA) May meeting raised the risk of a near-term interest rate hike.
The minutes showed Australia's central bank actively considered lifting its key cash rate, already at a 12-year high, given that inflation was at 17-year peaks.
The Aussie was at $0.9582/85 against the US dollar, up from $0.9542/45 late here on Monday, having struck a 24-year high of $0.9590 during in the session.
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