USD gains support after Fed projects rate hike
The US dollar has been supported following the hawkish Fed dot plot last week.
The Fed delivered a hawkish surprise by projecting a rate hike this year.
There are now 32 bps of tightening priced in by year-end, with a 29% chance of a hike in July and 60% probability of a move in September.
The AUD/USD has consolidated at a major trendline as traders await fresh catalysts, with the RBA recently softening its tone after a rate hike to 4.35%