• AUD/USD drifts higher around 0.6660 in Wednesday’s early Asian session. 
• US Retail Sales came in weaker than expected, rising 0.1% MoM in May from a 0.2% drop in April.
• The RBA left the cash rate at 4.35% on Tuesday, as widely expected. 

The AUD/USD gains traction near 0.6660 during the trading hours on Wednesday. The pair edges higher after the weaker-than-expected US Retail Sales data and hawkish hold from the Reserve Bank of Australia (RBA) at its June meeting on Tuesday. 

The recent US Retail Sales report suggested signs of subdued activity among US consumers, prompting the case for US Federal Reserve (Fed) rate cuts later this year, which weakened the Greenback broadly. The US Retail Sales increased 0.1% on a monthly basis in May from a 0.2% drop in April, below the consensus for a rise of 0.2%, according to the Commerce Department on Tuesday.

Many Fed officials on Tuesday highlighted the Fed's commitment to making decisions based on incoming economic data. Boston Fed President Susan Collins warned against overreacting to "promising" economic news. Collins added that despite progress on inflation, it is still too early to say whether or not inflation is on course towards the Fed’s 2% target.