Aussie wins against drop in the US dollar as Fed gets ready to cut
Thursday 14th Decenber 2023
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A Fed that is happy to hold, and is expecting to cut three times next year. That\u2019s the takeout from the FOMC meeting this morning. Markets have responded swiftly, with sharp moves down in the US dollar and bond yields, with the Aussie dollar making the biggest gains this morning. NAB\u2019s Taylor Nugent says yields were already falling on the back of slower rises in producer prices, adding to the evidence that inflation is easing in the US. The Bank of England meets later today, along with the ECB. Both are expected to stay put, with the UK having much lower than expected GDP growth in October. Australia\u2019s employment numbers are released today, after yesterday\u2019s Seek job ads show more labour market easing.
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