A bank employee counts Chinese renminbi notes next to US dollar bills on Jan. 25, 2023, at a Kasikornbank branch in Bangkok. (Reuters/Athit Perawongmetha)
The dollar nudged a little higher in Asian trade on Wednesday, receiving limited additional strength after renewed attacks on shipping in critical waterways in the Middle East, as currency markets anxiously awaited the release of inflation data later in the global day.The yen was 0.1 percent weaker against the dollar at 159.44 yen, reaching its softest levels of the month despite the recent joint intervention by US and Japanese authorities to strengthen the Japanese currency, while the euro slipped 0.1 percent to $1.1534.
The British pound was also unchanged at $1.3505. The Australian dollar was down 0.1 percent at $0.7056.
The kiwi dollar was 0.3 percent weaker at $0.5866 after New Zealand Prime Minister Christopher Luxon said on Wednesday he had won a confidence vote of ruling party lawmakers, following speculation about his leadership months from a general election.
The main focus for markets this week is on the release of US inflation data due later on Wednesday for clues to the direction of Federal Reserve interest rates, as last week's softer-than-expected jobs report and a press conference by Fed Chair Kevin Warsh last month did little to dispel doubts.
