Aussie leaps, Kiwi tumbles on Fed decision

Aussie leaps, Kiwi tumbles on Fed decision

On Thursday, the Australian dollar ascended versus its American rival, while the New Zealand dollar lost having hit multi-month peaks because the Fed disappointed market participants by leaving its 2018 interest rate outlook intact.

The currency pair AUD/USD gained 0.37% trading at 0.7665, which is the highest outcome since November 10.

In a widely anticipated move, the key US bank lifted interest rates to 1.50% by 0.25 basis points at the conclusion of its policy gathering on Wednesday.

The Fed didn’t change its projections for next year, including three more interest rate lifts in both 2018 and 2019, thus confounding hopes for four rate lifts in 2018.

However, the US dollar’s losses were believed to remain restricted because on Wednesday Congressional Republicans reached a compromise on final tax legislation, thus clearing the way for concluding votes next week.

The currency pair NZD/USD dived 0.26% reaching 0.7006, off last session's almost two-month maximum of 0.7027.

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