The FOMC statement opened the door to a 2nd half 2016 interest rate hike at its meeting today but the USD has failed to hold onto gains and has staged a dramatic reversal lower so far in the Thursday Asian session.
Led by the EUR/USD and GBP/USD, the market has rallied against the USD and the AUD/USD is no exception back above 0.7500 to highs of 0.7525.
US 10yr Yields have fallen back to 1.50% and this could indicate growing disbelief that the US FED will be returning to long term normal interest rates anytime soon.
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