Fars news agency: Iran's president said he expects to generate 30,000 MW of electricity from clean and renewable sources within two years and pledged full support for investors in domestic solar-panel production.

AUD traded near an 11-week high on Tuesday after RBA minutes from the August meeting showed policymakers closer to a rate increase than markets had expected. The minutes said several members judged tightening necessary given upside inflation risks but chose to hold while awaiting further data; they noted employment, inflation and growth data would be available by the next meeting, keeping a rate hike an option. Markets place only a 14% probability on a 25bp increase from the current 4.35% cash rate at the next meeting, but a 68% chance of a hike in December. RBA officials reiterated that inflation risks remain skewed to the upside and rates could be raised again if inflation does not fall as expected.

IEA Executive Director Birol said the first release from strategic petroleum reserves in March totaled 400 mln barrels of crude, equal to 20% of reserves, leaving 80% remaining.