Update: AUD reached its highest level since the 14th of January, following some good domestic data yesterday
Update: AUD reached its highest level since the 14th of January, following some good domestic data yesterday. NAB business confidence and conditions for January came in at 8 and 4 respectively. Home loans were also positive. Last night provided few surprises from Yellen as she said the Fed would maintain the policy put in place by her predecessor, and appears likely to continue to scale back asset purchases as the economy continues to strengthen. She reiterated that the Fed expects economic output and employment to continue to improve this year and next. US and European equities markets rallied overnight. The Dow and S&P are both up over 1%, while the Dax and FTSE are up 2% and 1.2% respectively. USD is stronger against the yen but weaker against the NZD, CAD and GBP.
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