The Australian Dollar (AUD) trades slightly lower against the US Dollar (USD) on Wednesday, with AUD/USD stuck in a narrow intraday range as traders show a muted reaction to the Federal Reserve’s (Fed) monetary policy announcement. At the time of writing, the pair is trading around 0.6995, holding near its highest levels in nearly three years. The Fed kept its benchmark interest rate unchanged at 3.50%-3.75% range, in line with market expectations. The decision reflects a cautious approach as policymakers assess incoming economic data and evolving risks, following three consecutive 25-basis-point rate cuts last yearThe decision passed with a 10-2 vote, with Governors Stephen Miran and Christopher Waller dissenting in favor of a 25-basis-point rate cut. The Committee said it will keep a close watch on incoming data and is prepared to adjust policy if risks emerge that could hinder progress toward its goals.