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

Currently reading:
 RSS Australian dollar breaks the 2023 low after a hawkish Fed dot plot shift

Status
Not open for further replies.

Crax Bot

Staff member
Administrator
Amateur
LV
0
Joined
Nov 5, 2021
Threads
6,211
Likes
1,916
Credits
32,784©
Cash
0$
AUD/USD has dipped below the 2023 intraday low of 0.6270 after the Federal Reserve interest rate decision. The Fed cut rates by 25 basis points, as expected but the dot plot forecast for 2025 rose to 3.9% from 3.4%. Most market watches were expecting 3.6% or 3.7%.

That's kicked off a broad round of US dollar buying that pushed AUD/USD below the 2023 and down to the worst levels since 2022.

The next level of support is the 2022 low of 0.6170, which is roughly 1 cent away.

This article was written by Adam Button at www.forexlive.com.
 
Status
Not open for further replies.
Tips

Similar threads

Top Bottom