Investing.com - The Australian dollar slipped lower against its U.S. counterpart on Wednesday, as demand for the greenback remained broadly supported by expectations for a U.S. rate hike next month.
AUD/USD hit 0.7091 during late Asian trade, the session low; the pair subsequently consolidated at 0.7100, falling 0.14%.
The pair was likely to find support at 0.7121, the low of November 11 and resistance at 0.7154, the high of November 12.
The greenback remained supported after the U.S. Commerce Department reported on Tuesday that consumer prices increased by 0.2% last month, matching forecasts. Year-over-year, consumer prices were 0.2% higher from the same month a year earlier.
Core consumer prices, which exclude food and energy costs, increased by 0.2%, meeting expectations.
The upbeat data added to expectations that the Federal Reserve will hike interest rates as soon as next month.
In Australia, data on Wednesday showed that wage prices rose 0.6% in the third quarter, in line with expectations and after a 0.6% gain the previous month.
The Aussie was lower against the euro, with EUR/AUD rising 0.20% to 1.4996.