Investing.com - The Australian dollar came off early lows into
positive territory and the dollar held onto overnight gains against
the yen in early Asian trade Wednesday as U.S. Treasury Secretary
Jack Lew arrived in the region for a series of leadership meetings
in Singapore and Malaysia as well as Beijing later in the week.
USD/JPY reached 99.65, up 0.01%, in a range of 99.59 - 99.66,
AUD/USD traded at 0.9304, up 0.03, after a November survey by
Westpac-Melbourne Institute showed its consumer sentiment index
rose 1.9% to 110.3, nearing a peak earlier this year as house
prices in Sydney and the state of New South Wales and in Western
Australia rose smartly.
The survey comes on the heels of disappointing October business
confidence and conditions in a survey by National Australia Bank
released Tuesday. Both surveys are being closely watched by the
Reserve Bank of Australia.
Elsewhere on the data front in Japan, third quarter machinery
orders (-1.8% forecast) and October corporate goods price index
(-0.2% M/M) due at 0850 local time (2350 GMT) take center stage.
The dollar enjoyed support overnight amid ongoing expectations for
the Federal Reserve to begin scaling back its USD85 billion in
monthly bond purchases either in December or in early 2014.
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