The Australian dollar is unchanged against the greenback as investors await interest rate decisions from the Federal Reserve and the Bank of Japan.

At 0700 AEST on Wednesday, the local unit was trading at 75.56 US cents, unchanged from Tuesday.

Westpac senior market strategist Imre Speizer said the Aussie dollar traded in a tight range with the US dollar and commodity prices flat.

Investors are eagerly awaiting the Bank of Japan (BoJ) and the US Federal Open Market Committee’s meetings and interest rate over the next 24 hours.

“The Australian dollar is in neutral mode around 75.50 US cents ahead of the BoJ this afternoon (US time), and then the FOMC tomorrow morning,” he said.

There are no local risk events for the local currency on Wednesday.

The Reserve Bank of New Zealand also meets on Thursday with any further rate cuts expected to boost the New Zealand dollar against the Aussie.

AAP

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