The Australian dollar and the NZ dollar dropped versus the US major counterpart after the Feds reported that the economic recovery is continuing at a modest pace, nonetheless, the Fed confirmed that the recovery was somewhat weaker than they expected, as labor market conditions remained weak, pushed the investors to reduce their investment for the higher yielding currencies.

Moreover, the US stock markets dropped after the Federal Reserve Bank lowered its forecast for economic growth, while it plans to finish its $600 billion bond-purchase program this month, where the Bank decided to leave the rates unchanged steady at a record low between 0.00% and 0.25%.