The Australian dollar fell against its most major opponents in the Asian session on Friday, as investors weighed the prospects of a sooner-than-expected tightening of monetary policy by the U.S. Federal Reserve.

The Fed brought forward its projections for interest rate hikes into 2023 and indicated that officials had started talks about the process for withdrawing bond buying program.

The Fed's hawkish shift triggered a sharp pullback in the equity markets as the economy remained "a ways off" from reaching the employment goal.

Investors are pondering the possible timing of the start of winding down the QE program.

Oil prices fell amid a high dollar, as the Fed penciled in two potential rate hikes in 2023, faster than projected by policymakers.

The aussie weakened to near a 6-month low of 0.7511 against the greenback and near a 3-month low of 82.76 against the yen, pulling away from its prior highs of 0.7561 and 83.38, respectively. The next possible support for the currency is seen around 0.72 against the greenback and 80.00 against the yen.

The aussie reversed from its previous highs of 1.5752 against the euro and 0.9336 against the loonie, declining to a fresh 2-week low of 1.5844 and a 2-week low of 0.9297, respectively. The aussie may locate support around 1.60 against the euro and 0.90 against the loonie.

In contrast, the aussie rose to a 2-day high of 1.0805 against the kiwi from Thursday's close of 1.0769. If the aussie rises further, 1.10 is likely seen as its next resistance level.

Looking ahead, Eurozone current account for April will be published in the European session.

Canada new housing price index for May is set for release in the New York session.

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