Dollar nosedives as Fed leaves rates on hold
THE Australian dollar has broken below 71 US cents after the US Federal Reserve kept its near-zero benchmark interest rate unchanged.
At 0630 AEDT on Thursday, the currency was trading at 71 US cents, down from 71.20 cents on Wednesday.
While leaving policy steady on Thursday morning (AEDT), the central bank hinted it could begin raising US interest rates as early as December.
The Aussie slumped to 70.80 US cents with the news, from 71.59 earlier.
CURRENCY SNAPSHOT AT 0630 AEDT ON THURSDAY
One Australian dollar buys:
* 71.00 US cents, from 71.20 cents on Wednesday
* 86.03 Japanese yen, from 85.72 yen
* 65.02 euro cents, from 64.53 euro cents
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