Investing.com - The Australian dollar moved between small gains and losses on Wednesday with wage-price data coming in as expected.
AUD/USD traded at 0.7111, flat, while USD/JPY changed hands at 123.38, down 0.05%.
In Australia, the Westpac leading index rose 0.12 point to 97.74, while the third quarter wage-price index gained 0.6% quarter-on-quarter, matching expectations.
The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, rose 0.02% to 99.74.
Overnight, the dollar remained at seven-month highs against the other major currencies on Tuesday, after upbeat U.S. inflation data added to hopes that the Federal Reserve will raise interest rates at its meeting next month.
The U.S. Commerce Department reported that consumer prices increased by 0.2% last month, matching forecasts and following a fall of 0.2% in September.
Year-over-year, consumer prices were 0.2% higher from the same month a year earlier, compared to expectations for a 0.1% increase.
Core consumer prices, which exclude food and energy costs, increased by 0.2%, meeting expectations.
A separate report showed that that U.S. industrial production fell 0.2% last month, disappointing expectations for a gain of 0.1%. Industrial production fell by 0.2% in September.