Forex - Aussie falls in Asia after wages data weaker than seen

Aussie weaker in Asia

Investing.com – The Aussie fell in Asia on Wednesday after wages data with investors keeping a sharp eye on the dollar ahead of remarks from Fed Chair Janet Yellen this week.

traded at 0.7548, down 0.16%, while changed hands at 108.94, down 0.23%.

In Australia, the third quarter wage price index rose 0.4%, less than the 0.5% gain seen and at 1.9% pace , below the 2.0% increase expected.

The , which measures the greenback’s strength against a trade-weighted basket of six major currencies, was last quoted at 100.20.

Overnight, the dollar held steady near a fresh 11-month peak against the other majors currencies on
Tuesday, as upbeat U.S. data boosted optimism over the U.S. economy and added to expectations for a rate hike by the Federal Reserve.

The U.S. Commerce Department said retail sales rose 0.8% in October, compared to expectations for a 0.6% increase.

Core retail sales, which exclude automobile sales, increased by 0.8% last month, compared to forecasts for an advance of 0.5%.

In addition, the Federal Reserve of New York said its Empire State manufacturing index climbed to 1.50 in November from -6.80 the previous month. Analysts had expected to improve to -2.50 this month.

The dollar also remained broadly supported amid hopes that increased fiscal spending and tax cuts under a Trump administration will bolster economic growth and inflation.

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Forex - Aussie falls in Asia after wages data weaker than seen