• NY opened near 0.7560 after AUD/USD drifted downward in Asia & Europe's morning

• The pair rallied in early NY despite firmer USD yields & USD/CNH's lift off its low

• The pair traded 0.7076 then stalled; gains in gold & silver helped AUD/USD move up

• Drops in stocks & AUD/JPY helped stem the rise but the pair held onto gains

• AUD/USD was in positive territory & sat near 0.7075 ahead of the Fed's policy decision

• Pair spiked lower as Fed removed "easing bias" reference", projections show hike in 2026

• US yields added to gains, stocks , gold & silver moved downward

• AUD/USD hit 0.7040 after the statement, latest SEP was down -0.28% into the presser

• During Chair Warsh's news conference USD buying persisted, AUD/USD neared 0.7030

• The pair then bounced, sat near 0.7055 late, traded down only -0.029%
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(Christopher Romano is a Reuters market analyst. The views expressed are his own)