A 10-2 Federal Reserve vote kept U.S. rates unchanged Wednesday, while FXStreet's later snapshot showed the Australian dollar up 0.52% against the U.S. dollar, with two officials favoring an increase.
The Federal Open Market Committee (FOMC), the Fed's rate-setting body, kept the federal funds target range at 3.75% to 4%. Fed Governor Lisa D. Cook and Cleveland Fed President Beth M. Hammack dissented, each supporting a 0.25-percentage-point increase.
FXStreet reported AUD/USD at $0.7054 at 4:29 p.m. ET (20:29 UTC). That was a market snapshot, not an official closing rate. Its timing after the announcement does not establish that the Fed decision caused the currency move.
The Fed described economic activity as strong and inflation as above its 2% goal. It said further information would help the committee shape a policy stance aimed at returning inflation to target.
EconoTimes previously covered the Fed's rate hold and dissenting votes. The FOMC's next scheduled meeting is Dec. 8-9.
