Forex - Aussie weaker in Asia ahead of wages figures, dollar eyed

Aussie weaker in Asia

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

traded at 0.7549, down 0.15%, while changed hands at 109.09, down 0.09%.

In Australia, the third quarter wage price index is seen up 0.5% and at a 2.0% pace .

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 weaker in Asia ahead of wages figures, dollar eyed