Australian dollar higher after Fed minutes

THE Australian dollar is higher after the release of the US Federal Reserve’s January policy meeting minutes.

THE Australian dollar is higher after the release of the US Federal Reserve’s January policy meeting minutes.

At 0630 AEDT on Thursday, the local dollar was trading at 78.32 US cents, up from 78.23 cents on Wednesday.

The Fed does not appear ready to start raising its interest rates anytime soon, with officials expressing concerns about inflation and lingering problems in the labour market.