Investing.com - The Australian dollar held weaker on Wednesday following housing finance data that was better than expected.
AUD/USD traded at 0.8962, down 0.17%, after Australia, January Housing Finance came in flat, compared to an expected decline of 0.5% month-on-month.
USD/JPY traded at 103.04, up 0.03%, retracing early direction.
Earlier, the Westpac and the Melbourne Institute showed a sharp drop of 0.7% to 99.5 for March, comnpared to the previous reading a drop of 3%.
"We retain our view that rates will remain unchanged over the first half of 2014, but with two further 25bp rate cuts in the second half. The ongoing downturn in mining; fiscal consolidation; a stubbornly high currency amidst a fall in the terms of trade combine with two important macro dynamics the bank is presently choosing to understate: the feedback on confidence and incomes from continued labour market weakness and ongoing caution amongst business and consumers," said Westpac senior economist Matthew Hassan.d
Later on, the Reserve Bank of Australia''s Deputy Governor Phillip Lowe is due to give a speech in Sydney at 1800 local time (0700 GMT).
In Japan, February CGPI showed a drop 0f 0.2% month on month, compared to an expectation of a gain of 0.2%. The Q1 business outlook survey showed a gain of 12.5 points, compared to an expectation of an increase of 11.3 points.
At 1400 Tokyo time (0500 GMT), the BOJ''s monthly economic report is due as is the February Consumer Confidence Survey.
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