US Economy
The Australian dollar opened stronger on Thursday, benefiting largely from US dollar weakness as it tumbled on record US trade deficit figures released overnight.
At 7am (AEDT), the local unit was trading at US75.60¢, slightly above Wednesday's close of US75.40¢.
Overnight, it hit a high of US75.36¢ and a low of US75.80¢.
Deutsche Bank foreign exchange strategist John Horner said the local currency benefiting from the US dollar tumble overnight.
The US Federal Reserve overnight lifted US borrowing costs for the 13th time running but signalled a possible end to its campaign of rate hikes as chairman Alan Greenspan prepares to retire.
As expected, the US central bank raised the benchmark interest rate paid by banks on overnight loans by a quarter point to 4.25 percent. The rate steers lending costs throughout the world's biggest economy.
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- Westpac Banking Corporation (WBC)
- Commonwealth Bank of Australia (CBA)
- National Australia Bank (NAB)
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- ANZ
- News Corporation (NWS)
- Woolworths Limited(WOW)
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- Santos Limited (STO)
- AMP Limited (AMP)
- Macquarie Group (MQG)
- Foster’s Group Limited (FGL)
