• The Australian Dollar appreciated as the RBA Meeting Minutes emphasized the importance of maintaining a restrictive monetary policy.
• The PBoC's Monetary Policy Committee (MPC) decided to maintain the current interest rate at 3.1% for November.
• The US Dollar steadies as investors anticipate pro-inflationary policies from the incoming Trump administration.

The Australian Dollar (AUD) attempts to extend its gains for the fourth consecutive day on Wednesday, following the People’s Bank of China’s (PBoC) interest rate decision. The PBoC's Monetary Policy Committee (MPC) opted to keep the benchmark interest rate unchanged at 3.1% for November.

The AUD/USD pair may face downward pressure as the US Dollar (USD) gains ground on safe-haven flows amid escalating tensions in the Russia-Ukraine conflict. According to a Reuters report late Tuesday, Ukraine deployed US-supplied ATACMS missiles to strike Russian territory for the first time, signaling a significant escalation on the 1,000th day of the conflict. However, market concerns eased slightly after Russian Foreign Minister Sergei Lavrov stated that the government would "do everything possible" to prevent the outbreak of nuclear war.

The Reserve Bank of Australia's (RBA) November Meeting Minutes indicated that the central bank’s board remains cautious about the potential for inflation to rise further, emphasizing the need for restrictive monetary policy. Board members also indicate no "immediate need" to adjust the cash rate, though they left the door open for future changes, noting that nothing can be ruled in or out.