AUD soars as US Fed becomes cautious

30 March 2016

 

The Australian dollar rallied strongly overnight as Janet Yellen again hinted that the US Fed may not be so quick to raise interest rates as markets had been predicting at the start of the year. Yellen said, with regard to raising rates, that the Fed should proceed only “cautiously” as “inflation has not yet proven durable against a backdrop of looming global risks to the US economy, including still-low oil...

read full story