Australian Dollar Edges Higher Before Fed Announcement

The Australian dollar ticked higher today as the market was preparing itself for the upcoming monetary policy announcement from the Federal Reserve. Trading was jittery due to uncertainty regarding the Fed decision and the market reaction to it.

The Fed is going to announce its decision as of 19:00 GMT today. Most market participants anticipate monetary tightening, but it is unclear how it would affect the market. While the US dollar was lower, helping some riskier currencies, like the Aussie, currencies’ moves were limited during the current trading session.

AUD/USD ticked up from 0.7191 to 0.7196 as of 14:49 GMT today. AUD/JPY was up from 87.47 to 87.70.

If you have any questions, comments or opinions regarding the Australian Dollar,
feel free to post them using the commentary form below.

Leave a Reply

Your email address will not be published. Required fields are marked *