Investing.com - The Australian dollar was trading near two-week lows against its U.S. counterpart on Wednesday, as markets eyed the minutes of the Federal Reserve's latest policy meeting, as uncertainty over the future of the bank's stimulus program persisted.
AUD/USD hit 0.9019 during late Asian trade, the pair's lowest since August 8; the pair subsequently consolidated at 0.9030, declining 0.44%.
The pair was likely to find support at 0.8920, the low of August 7 and resistance at 0.9233, the high of August 19.
Investors were looking ahead to the minutes of the Fed’s July meeting, due out on Wednesday, for further indications as to when the central bank may start to taper its USD85 billion-a-month stimulus program.
Expectations that the Fed may begin tapering as soon as next month were boosted after data last week showed that U.S. weekly jobless claims fell to an almost six year low.
Fed Chairman Ben Bernanke has said that the decision to start tapering will depend on whether economic data is strong enough.
The Aussie was lower against the euro with EUR/AUD gaining 0.42%, to hit 1.4852.
Later in the day, the U.S. was to release private sector data on new home sales.
AUD/USD hit 0.9019 during late Asian trade, the pair's lowest since August 8; the pair subsequently consolidated at 0.9030, declining 0.44%.
The pair was likely to find support at 0.8920, the low of August 7 and resistance at 0.9233, the high of August 19.
Investors were looking ahead to the minutes of the Fed’s July meeting, due out on Wednesday, for further indications as to when the central bank may start to taper its USD85 billion-a-month stimulus program.
Expectations that the Fed may begin tapering as soon as next month were boosted after data last week showed that U.S. weekly jobless claims fell to an almost six year low.
Fed Chairman Ben Bernanke has said that the decision to start tapering will depend on whether economic data is strong enough.
The Aussie was lower against the euro with EUR/AUD gaining 0.42%, to hit 1.4852.
Later in the day, the U.S. was to release private sector data on new home sales.