Australian greenback breaks the 2023 low after a hawkish Fed dot plot shift

AUD/USD has dipped beneath the 2023 intraday low of zero.6270 after the Federal Reserve rate of interest determination. The Fed lower charges by 25 foundation factors, as anticipated however the dot plot forecast for 2025 rose to three.9% from three.four%. Most market watches have been anticipating three.6% or three.7%.

That is kicked off a broad spherical of US greenback shopping for that pushed AUD/USD beneath the 2023 and right down to the worst ranges since 2022.

The following degree of help is the 2022 low of zero.6170, which is roughly 1 cent away.

This text was written by Adam Button at www.ubaidahsan.com.



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