Forex
AUD Holds Gains Near 0.7100 Despite Fed Hike
The Australian Dollar (AUD) held onto its gains near the psychologically important level of 0.7100 despite the Federal Reserve's interest rate hike on Wednesday, which was widely expected.
On Thursday morning in Asia, the AUD/USD pair strengthened to around 0.7090 as traders continued to assess the Fed's decision and US President Donald Trump's comments.
The International Monetary Fund (IMF) urged the Reserve Bank of Australia (RBA) to stay hawkish, citing inflation upside risks.