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Dollar higher on Fed minutes

1128568_53365130The Australian dollar has jumped one US cent higher after the release of the minutes of the US Federal Reserve’s most recent policy meeting.

The currency shot as high as 88.47 US cents, from 87.34 just before the minutes were released at 0500 AEDT on Thursday.

By 0630 AEDT, the local unit was trading at 88.33 US cents, up from 87.65 cents on Wednesday.

The Fed minutes show that officials are in no hurry to raise the central bank’s interest rate, saying a hike won’t happen until there are solid signs the US economy is improving.

AAP

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