Australian Dollar gains as US Dollar remains steady on Fed policy outlook

The Australian Dollar (AUD) is experiencing an upswing against the US Dollar (USD) on Friday, marking two consecutive days of gains. The market is influenced by the Federal Reserve's policy outlook, which keeps the US Dollar steady. The rise in the AUD can be attributed to strong economic data from Australia and rising commodity prices, particularly in mineral resources. Investors are focused on economic growth forecasts alongside US interest rate policies, which subsequently impacts the forex market. Given the prevailing high interest rates in the US, the AUD appears to have further short-term upward potential. However, the ongoing stability of the USD may limit the extent of the AUD's gains.