Aussie rises, shrugs off stronger dollar

Aussie rose against US dollar which has rose and put pressure on most major currencies following the US Federal Reserve's decision yesterday.

The US central bank decided to cut interest rates by about a quarter of a point to 2.25% from 2.50% and hinted that it could be cut again.

However, Federal Reserve Chairman Jerome Powell said the Fed is not in a hurry for another cut, and yesterday's decision was not the beginning of long-term interest rate cuts.

Goldman Sachs analysts said there is an 80 percent chance that the Fed would cut rates again before the end of the year.

Meanwhile, markets are awaiting the outcome of trade negotiations between the United States and China, especially after Beijing announced a new round in September.

On the trading front, by 15:59 GMT, AUD/USD rose by 0.2% to 0.6859, with the day's highest at 0.6865 and the lowest at 0.68.29.