Investing.com – The dollar fell below the 94 level in morning trade on Wednesday, while the Aussie got a lift from upbeat growth data that beat expectation.
The U.S. dollar index, which tracks the greenback against a basket of six major currencies, lost 0.04% to 93.81 at 10:55PM ET (02:55 GMT), a slide from 94.27 overnight.
The AUD/USD pair gained 0.47% to 0.7652. The Aussie was supported by Australia’s rosy GDP growth figure, which rose 1% on the quarter in 2018’s first three months, beating the estimated 0.8%. On an annualized basis, growth was 3.1%, above both the expected 2.8% and the previous quarter’s 2.4% gain.
The USD/JPY pair gained 0.05% to 109.84. Official data showed on Wednesday that Japanese workers’ real wages were unchanged in April from the same period last year, compared to a revised 0.7% annual increase in March.
In China, the USD/CNY pair added 0.02% to trade at 6.4063. The People's Bank of China set the set the reference rate for the yuan against the dollar, the mid-point from which the currency is allowed to trade, at 6.4040 versus the previous day's 6.4157.
Trade talks between the U.S. and China are ongoing. Reports on Tuesday that China offered to increase buying of U.S. goods by $25 billion this year caught some attention. Citing people familiar with the matter, the reports said China would step up purchases of crude oil, coal and farm products.