Aussie hits two-year high after Fed’s meeting

Australian Dollar hit two-year high on Thursday, following the Federal Reserve's meeting, which resulted in holding interest rates and maintaining the current easing monetary policy unchanged.

Dollar plumbed a new 13-month nadir against a basket of major currencies, after the Fed pointed to low inflation rate - below the 2% short-term target, in turn leading the Fed to maintain current accommodative monetary policy and gear up to reduce the bank’s balance sheet soon 

The Fed indicated interest rates will remain low for a while, as easing monetary policies carry on, which heaped pressure on the dollar and bonds; in turn underpinning Aussie and other rivals.

AUD/USD last traded at 0.8032, up from the opening of 0.7998, with a session-high at 0.8043 and a low at 0.7998.