Investing.com - The Australian dollar was little changed against its U.S. counterpart on Wednesday, while the New Zealand dollar moved higher as sentiment on the greenback became slightly more vulnerable ahead of this week’s key U.S. jobs report.
AUD/USD was steady at 0.7590.
Expectations for a March rate hike were boosted after Fed Chair Janet Yellen said last week that a rate hike "would likely be appropriate" this month if employment and inflation continued to evolve in line with expectations.
Market participants were looking ahead to the ADP jobs report due later in the day, as well as the highly anticipated US nonfarm payrolls report expected on Friday for further indications on the strength of the job market.
NZD/USD rose 0.24% to trade at 0.6972, off the previous session’s one-month low of 0.6946.
Earlier Wednesday, data showed that China’s imports increased by an annualized rate of 38.1% in February, while exports declined 1.3%.
China is Australia’s biggest export partner and New Zealand’s second biggest export partner.
The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was steady at 101.75.