FXStreet (Córdoba) – AUD/USD spiked and cut some of its intraday losses as the greenback weakened across the board following FOMC statement and Fed’s economic projections.
AUD/USD initially moved lower and scored a 1-week low of 0.7645 but it turned higher and gained nearly 80 pips in a matter of minutes as investors assess FOMC decision. At time of writing, the pair is trading at the 0.7700 area, still down 0.62% on the day.
The Federal Reserve decided to leave the target range for federal funds unchanged at 0-0.25% as expected. However, economic projections showed 15 of 17 officials expect rates to be raised later in 2015. The Fed also downgraded GDP growth forecast to 1.8% to 2.0% in 2015.
(Market News Provided by FXstreet)