The Australian dollar is falling against the US dollar

The Australian dollar is also falling against the US dollar, with prices continuing to slip to October 2019 lows after the coronavirus hit. Also, the US dollar is moving according to the decision of the Federal Open Market Committee to leave rates unchanged. The Federal Reserve also reaffirmed its wait-and-see stance while it measures how rate cuts last year protected the US economy against the threat of a weaker global growth. According to the Fed Chairman Jerome Powell, the current policy stance is appropriate. However, his comments also suggested lingering risks to the global economy and difficulty sustaining inflation at the Fed’s 2% target. It also meant that if they were to change rates, it’s more probable they will cut the rates instead of raising them. Except 2018, inflation has stayed below the target level since the US central bank formally adopted the target in 2012. In 2018, the Fed most recently raise interest rates.