SYDNEY, AAP – Australia’s share market declined throughout the trading session and closed lower after the Aussie dollar rose on the US Federal Reserve’s economic projections.

The S&P/ASX200 benchmark index closed down 49.3 points, or 0.73 per cent, to 6745.9 on Thursday.

The All Ordinaries closed lower by 44.4 points, or 0.63 per cent, at 7003.6.

There were falls of more than one per cent in health, property, industrials, information technology and utilities.

Earlier the Federal Reserve projected a rapid jump in US economic growth this year as the COVID-19 crisis winds down, and repeated a pledge to keep its target interest rate near zero for years to come.

The Australian dollar was buying 78.26 US cents at 1622 AEDT, higher from 77.30 US cents at Wednesday’s close.