• AUD/USD trades in positive territory around 0.6545 in Wednesday’s early European session, gaining 0.38% on the day. 
• The RBA delivered hawkish interest rate guidance, lifting the Aussie. 
• Market players have raised their bets on Fed rate cuts by 50 bps in September.

The AUD/USD pair extends the recovery near 0.6545 on Wednesday during the early European trading hours. The hawkish stance from the Reserve Bank of Australia (RBA) supports the Australian Dollar (AUD) against the Greenback. Investors will take more cues from RBA Governor Michele Bullock's speech on Thursday. 

The RBA left interest rates on hold at 4.35% for the sixth consecutive meeting at its August policy meeting on Tuesday. RBA’s Bullock emphasized that inflation will remain a problem for some time yet before inflation is sustainably in the target range. Bullock further stated that the Australian central bank might need to maintain interest rates higher for an extended period. The RBA’s hawkish guidance on interest rates might boost the Aussie in the near term.