The Australian dollar traded close to 0 against the Canadian dollar on Monday.With a new two-week high of 8824, market participants turned their focus to the minutes of the Federal Reserve Bank of Australia's February policy meeting for more insight into the central bank's thinking.。

Federal Reserve Bank of Australia holds cash rate at 4 at February meeting.35% unchanged, in line with market consensus expectations。

However, the central bank warned that further policy tightening could not be ignored as inflation remained high and the cost of services did not fall fast enough.。

Policymakers at the Federal Reserve Bank of Australia point out that they need to be confident that inflation will fall back to the 2 to 3 per cent target range in 2025 and back to the middle level in 2026.。

Australian Federal Reserve Bank minutes to be released on Tuesday。

Canadian dollar traders, meanwhile, are eyeing Canada's January consumer price index data due out at 13: 30 GMT on Tuesday.。

According to the market consensus, the annual consumer inflation rate in January is likely to increase from 3 in December..4% slowed to 3.2%。

The Australian dollar was up 0 against the Canadian dollar as of Monday 08: 48 GMT.20%, transaction price is 0.8816。Earlier in the day, the forex pair had risen to 0.High of 8824。This is the highest level for this trading pair since February 2 (0.8841)。