US Mid-Session 15 Dec 16: FED lifted rates to 0.5% to 0.75% Aussie dollar under pressure.

The US Federal Reserve, lifted the fed funds target rate from 0.25-0.50% to 0.50-0.75% in a unanimous decision. In addition the Fed commentary suggested three rate hikes in 2017 up from 2 at the September meeting. The FOMC Statement highlighted that "Near-term risks to the economic outlook appear roughly balanced" but when it comes to inflation, "Market-based measures of inflation compensation has moved upconsiderably but still are low".