Australian Dollar Continues to Move Higher

The Australian dollar continued to move higher during the current trading session as the latest policy statement from the Federal Reserve hurt the US dollar, allowing other currencies to carve out gains.

The Fed statement had a big impact on the Forex market, and its influence still persists. The event had not just a direct impact on the FX market, weakening the greenback, but also an indirect one by bolstering prices for raw materials. The latter supported the commodity-related currencies, including the Aussie.

AUD/USD edged up from 0.7799 to 0.7808 and AUD/JPY rose from 93.45 to 93.56 as of 11:44 GMT today.

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