Daily Forecast - 17/3/2010

16 March 2010 @ 06:20 pm EDT

:: Australian Dollar: The Australian Dollar opens higher against the greenback today at 0.9180. Minutes from the March RBA board meeting released yesterday showed that rates may be kept steady next month which kept a lid on the Aussie during local trade, hitting an intraday low of 0.9120. At the start of?the offshore session, the unit was trading around 0.9150 ahead of the interest rate announcement in the United States.?The U.S. Federal Reserve kept their main interest rate on hold at 0 - 0.25 per cent which saw the Aussie climb half a cent to this morning's opening level. The accompanying statement by the Federal Open Market Committee reiterated that current conditions are likely to warrant "exceptionally low levels of the federal funds rate for an extended period".

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