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Forex - Dollar holds gains in early Asia trade, U.S. Lew in region

Posted
11/12/2013 6:15:00 PM
By: Investing.com
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Investing.com - 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 99.66, up 0.02%, in a range of 99.59 - 99.66,

AUD/USD weakened ahead of consumer sentiment data from Westpac-Melbourne Institute for November at 1030 local time (2330 GMT) that comes on the heels of disappointing October business confidence and conditions in a survey by National Australia Bank released Tuesday.

AUD/USD traded at 0.9300, down 0.02%.

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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