Australian dollar slightly higher after Fed minutes

THE Australian dollar is slightly higher after the minutes of the US Federal Reserve’s May meeting gave no clarity on the timing of an interest rate rise.

THE Australian dollar is slightly higher after the minutes of the US Federal Reserve’s May meeting gave no clarity on the timing of an interest rate rise.

At 0630 AEST on Thursday, the local dollar was trading at 76.86 US cents, up from 76.77 cents on Wednesday.

The Fed minutes showed that there was division among members regarding the expected timing of the first rate hike, ranging from June, to late in 2015, and sometime in 2016.

CURRENCY SNAPSHOT AT 0630 AEST ON THURSDAY

One Australian dollar buys:

* 76.86 US cents, from 76.77 cents on Wednesday

* 92.34 Japanese yen, from 92.00 yen

* 71.28 euro cents, from 70.79 euro cents

(*Currency closes taken at 1700 AEST previous local session) Source: IRESS

Originally published as Australian dollar slightly higher after Fed minutes