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Aussie dollar trims losses after Fed keeps rates steady

AUD/USD was around 0.6950 after the Fed held policy, with three dissenters supporting a 25-basis-point hike.

Reported · Written up by our desk · Major Pairs

The Australian dollar trimmed some earlier losses after the Federal Reserve kept interest rates steady, according to FXStreet. The Fed decision passed 9 to 3, with three officials dissenting and backing a 25-basis-point rate hike.

After the announcement, AUD/USD traded around 0.6950, down 0.32%. In its statement, the Fed said economic activity continues to expand steadily despite uncertainty tied to the Middle East conflict, citing robust productivity growth, ongoing job gains, and little change in the unemployment rate.

The Fed reiterated its commitment to maintaining price stability. The dissenters were Cleveland Fed President Beth Hammack, Minneapolis Fed President Neel Kashkari, and Dallas Fed President Lorie Logan, who preferred raising rates by 25 basis points.

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