The Federal Reserve is widely expected to raise interest rates for the second time this year on Wednesday.
The dollar hit a two-week high of 110.27 yen in late U.S. trade on Wednesday before giving up gains in Asia, likely related to the selling in Aussie/yen, to trade at 110.01 yen, down 0.15 percent on the day.
The Australian dollar dipped 0.15 percent against the dollar to $0.7655, off a 1-1/2-month high of 76.77 cents touched on Wednesday, underpinned in part by the country’s strong economic growth data published on Wednesday.
The improving market mood on the back of easing worries about Italian politics and the strength of high-tech shares has supported high-beta currencies such as the Australian dollar and has weighed on a low-yielding yen for the past week.
But many investors are cautions on making big bets due to uncertainties over trade frictions, given U.S. President Donald Trump looks set to clash with other Group of Seven leaders at their weekend summit in Canada.
The dollar hit a two-week high of 110.27 yen in late U.S. trade on Wednesday before giving up gains in Asia, likely related to the selling in Aussie/yen, to trade at 110.01 yen, down 0.15 percent on the day.
The Australian dollar dipped 0.15 percent against the dollar to $0.7655, off a 1-1/2-month high of 76.77 cents touched on Wednesday, underpinned in part by the country’s strong economic growth data published on Wednesday.
The improving market mood on the back of easing worries about Italian politics and the strength of high-tech shares has supported high-beta currencies such as the Australian dollar and has weighed on a low-yielding yen for the past week.
But many investors are cautions on making big bets due to uncertainties over trade frictions, given U.S. President Donald Trump looks set to clash with other Group of Seven leaders at their weekend summit in Canada.
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