Investing.com - The Australian dollar fell during Asian trade on
Wednesday after data showed the official wage price index fell to
its slowest annual pace since the series began in September
The Australian Bureau of Statistics reported that the annual
pace slowed to 2.6% for the wage price series ended in the fourth
quarter of 2013, though the quarterly figure gained to 0.7%.
In Japan, at 1245 in Tokyo (0345 GMT) Ministry of Finance will
the release its 20-year JGB auction results. The MOF is due to
auction Y1.2 trillion of 20-year bonds. At 1400 (0500 GMT), the
Bank of Japan will release its monthly economic report.
USD/JPY fell 0.15% at 102.20, AUD/USD traded down 0.22% at
0.9006 and NZD/USD also fell 0.08% at 0.8300.
On Tuesday the dollar weakened after the Federal Reserve Bank of
New York said that its general business conditions index came in at
4.48 for February, down from a 20-month high of 12.51 in January.
Analysts had expected the index to decline to 9.00.
The new orders index fell to zero from a two-year high of 11
The numbers were the latest in a series of soft U.S. economic
indicators that have prompted many investors to wonder whether the
Federal Reserve will slow the pace of reductions made to its
asset-buying stimulus program.
The Fed is currently buying USD65 billion in bonds a month to
suppress interest rates to spur recovery, which weakens the dollar
as a side effect.
The dollar index, which tracks the performance of the greenback
versus a basket of six other major currencies, fell 0.05% at
On Wednesday, the U.S. is to publish reports on building
permits, housing starts and producer price inflation.
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