The Australian dollar bolstered to a three-week peak versus the US dollar Thursday, as the likelihood of an interest rate hike dwindled.
The Aussie closed at 63.61 euro cents from Wednesday’s 63.63 euro cents, 71.94 US cents from 71.59 US cents, and 46.38 British pence from 46.68 British pence.
Higher commodity prices and a lower greenback implied more investors believe “the Fed will stay on hold this week,” said Emma Lawson, Currency Strategist at National Australia Bank.
The Federal Reserve is slated to announce its decision on whether it will raise rates after the end of its two-day policy meeting Friday.
The material has been provided by InstaForex Company – www.instaforex.com