Investing.com - The Australian dollar edged higher against its U.S. counterpart on Wednesday, while the New Zealand dollar held steady as investors turned their attention to the ninutes of the Federal Reserve’s March meeting, due to be released later in the day.
AUD/USD rose 0.24% to trade at 0.7562.
The greenback found support after the Institute of Supply Management said on Tuesday that its non-manufacturing purchasing manager's index improved to 54.5 last month from 53.4 in February.
But gains were limited as data also showed that the U.S. trade deficit widened to $47.06 billion in Februray from $45.88 billion in January.
Investors were eyeing the minutes of the Fed’s March meeting due later Wednesday, for fresh indications on the future path of interest rates.
NZD/USD was little changed at 0.6811.
Commodity currencies found support as oil prices rebounded late Tuesday after hitting one-month lows.
The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was up 0.15% at 94.76, still close to last week’s five-and-a-half month low of 94.30.