The Australian dollar regained ground after falling on Tuesday as China consumer prices came in weaker than expected.
In China, consumer prices for October rose 1.3% year-on-year, below the 1.5% gain expected, while producer prices eased 5.9%, less than the 5.9% fall seen.
Earlier in Australia, home loans in September rose 2.0%, better than the 0.1% gain seen while a NAB survey saw business confidence dip to plus-2 in October from plus-5 the previous month and conditions steady at plus-9.
AUD/USD traded at 0.7054, up 0.09%.
USD/JPY was last up 0.11% at 123.30.
In Japan, data showed the adjusted current account narrowed to ¥780 billion from ¥1.59 trillion and bank lending climbed 2.5%, less than the 2.6% gain seen.
Overnight, the greenback managed to stay above the ¥123 mark as
stronger-than-expected U.S. jobs figures Friday intensified the
possibility that the Federal Reserve would raise short-term rates within
this year.
Some analysts suggest that a fall in the benchmark Nikkei Stock Index and
some dollar buying by Japanese importers for regular commercial trade
settlement prevented the greenback from declining below 123 to a yen. The
Nikkei was up 0.15% at close.
However, following weak U.S. stocks and a lack of trading cues, the U.S. currency held lower than its overnight high of 123.60 yen, its strongest level since August 20.
