AUD/USD almost unchanged, near 1-month lows after Fed statement

Investing.com – The Australian dollar was almost unchanged against its U.S. counterpart on Thursday, hovering close to one-month lows after the Federal Reserve left interest rates unchanged but signalled the possibility for a rate cut before the end of the year.

AUD/USD hit 0.7092 during late Asian trade, the session low; the pair subsequently consolidated at 0.7113.

The pair was likely to find support at 0.7067, the low of October 6 and resistance at 0.7207, Wednesday’s high.

At the conclusion of its two-day policy meeting on Wednesday, the Fed kept interest rates unchanged and said that it would assess whether the U.S. economy had strengthened enough to warrant higher interest rates at its December meeting.

Investors were looking ahead to revised U.S. economic growth data, as well as the weekly report on jobless claims due later in the day, for further indications on the strength of the economy.

Earlier Thursday, data showed that Australia’s import prices rose 1.4% in the third quarter, disappointing expectations for an increase of 1.6%, after a 1.4% gain in the three months to June.

The Aussie was lower against the euro, with EUR/AUD adding 0.14% to 1.5368.

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