Aussie dollar gains after US rates decision
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The news: The Australian dollar has gained on the greenback after the US Federal Reserve kept rates on hold and implied its hiking cycle might be finished.
The US dollar dropped against most currencies in the wake of the central bank decision.
The numbers: The Aussie dollar on Thursday was up about 1.5% and buying 66.62 US cents at 9:10am (AEDT).
The context: The Fed in its overnight rates decision gave new economic projections that signalled lower borrowing costs in 2024. The US dollar index dropped to 102.89, its lowest level since 30 November.
The source: Reuters
