AUD slides with rising demand for dollar

The Australian dollar slid lower against its U.S. counterpart in Asian trading session on Thursday with the rising demand for USD following Federal Reserve (Fed) decision yesterday.

The AUDUSD pair recorded its lowest level since the 24 ^th of October at $0.8756.

The Fed’s decision to end stimulus programs (quantitative easing) and keep interest rates unchanged boosted the U.S. dollar.

The Federal Reserve stressed on the sidelines of announcing interest rates, that it will continue to work on reducing unemployment rates, and confirmed that the labor market is witnessing a remarkable improvement. There are more opportunities to support labor market even more, and that reshaped the confidence in markets regarding the U.S. economy recovery.