Investing.com - The Australian dollar was steady against its U.S. counterpart on Wednesday, after the release of positive Australian data, while fresh concerns over the strength of the U.S. economic recovery weighed on the greenback.
AUD/USD hit 0.8991 during late Asian trade, the pair''s lowest since February 14; the pair subsequently consolidated at 0.9021, easing 0.06%.
The pair was likely to find support at 0.8928, the low of February 13 and resistance at 0.9086, the high of January 13.
In a report, the Conference Board earlier said that its leading index for Australia rose 0.8% in December, after a 0.2% gain the previous month.
Data also showed that Australia''s wage price index rose 0.7% in the fourth quarter, slightly above expectations for a 0.6% rise, after a 0.5% increase in the three months to September.
Meanwhile, the greenback remained under pressure after data on Tuesday showed that the Empire State manufacturing index fell more-than-expected in February as new orders dropped.
A separate report showed foreign investors sold almost $120 billion of U.S. assets in December.
Investors were looking ahead to the minutes of the Federal Reserve’s January meeting later in the trading day, when the bank voted to cut its stimulus program by another $10 billion to $65 billion per month.
Earlier this month, Fed Chair Janet Yellen indicated that the central bank is on track to maintain the pace of reductions to its stimulus program, as long as the economy continues to improve as expected.
The Aussie was fractionally lower against the euro, with EUR/AUD easing up 0.09%, to 1.5254.
Later in the day, the U.S. was to publish reports on building permits, housing starts and producer price inflation. In addition, the Federal Reserve was to publish the minutes of its most recent policy setting meeting.
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