The Federal Reserve said its word and it was dovish. The central bank did not raise rates and lowered projections. While a rate hike is still on the cards this year, the Fed decided to wait mostly because of China, Australia’s main trade partner. The Fed is still on course to hike in 2015, but for now, the situation is calmer.
And that certainly helps the Australian dollar, which shot higher. The Australian dollar is a commodity currency that attracts money when the mood is more positive. But is it enough? The Aussie had many positive days and it may begin running out of steam. Here are levels to watch on both sides of the current trade.
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