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AUD/USD rose 0.83% after the Federal Reserve kept policy steady.
U.S. stocks rose as Federal Reserve Chairman Powell said the U.S. economy and labor force were strong after the Fed decision.
The 10-year U.S. Treasury yield fell and the U.S. dollar index fell, suggesting gains for AUD/USD.
Australian purchasing managers reported mixed results, with strong employment prospects likely to influence Reserve Bank of Australia policy.
AUD/USD surged 0.83% on Wednesday as the Federal Reserve kept interest rates steady while maintaining last year’s monetary policy outlook of 75 basis points (bps) of rate cuts in 2024. After the Asian market opened, AUD/USD was trading at 0.6595, up 0.14%.
