The Australian dollar is under huge pressure after the Fed

Marty Melville/AFP/Getty Images

The Australian dollar dropped to its lowest level in almost four months as commodity prices dropped and the US Federal Reserve indicated it is not concern about the American economy, boosting the greenback against its major peers.

The Aussie dropped to $US0.7423 in the previous session and was little changed Thursday. That is the lowest level since January 11.

The Federal Reserve signaled it’s looking past a recent deceleration in economic growth as it left interest rates at current levels. Copper fell the most since 2015.

The US dollar index was up 0.5% while the yen and euro all weakened overnight.

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