AUD/USD surges to near 0.6840 in the aftermath of the Fed’s policy announcement. The Fed cut its key borrowing rates by 50 bps to 4.75-5.00%. Australian Employment data for August came in better than expected. The Aussie asset strengthens as the US Dollar retreats in the aftermath of the Federal Reserve’s monetary policy announcement. The Fed delivered its first interest rate cut decision in more than four years in which it reduced borrowing rates by 50 basis points to 4.75%-5.00%.
On the Aussie front, upbeat Australian Employment data for August has strengthened the Australian Dollar . The report showed that Australian employers hired 47.5K fresh workers, higher than estimates of 25K but almost similar to the prior release of 48.9K, downwardly revised from 58.2K. The Unemployment Rate remains steady at 4.2%, as expected. Australian Dollar PRICE Today The table below shows the percentage change of Australian Dollar against listed major currencies today.