Mumbai, June 3 -- The RBA minutes noted that the Australian dollar had been volatile, depreciating sharply in early April before rebounding. On a trade-weighted basis, the Australian dollar was around the same level as it was in late 2024, the central bank said. A broad-based depreciation of the US dollar and the Chinese renminbi since early April had offset depreciation of the Australian dollar against the currencies of most other trading partners. Members discussed the somewhat unexpected depreciation of the US dollar in response to the announced increase in US tariffs, which might have been expected to produce an appreciation as the outlook for import growth worsened. The depreciation might reflect an uncertainty premium being applied ...