The Australian Dollar (AUD) remains subdued against the US Dollar (USD) on Wednesday.

The US Consumer Price Index is set to rise 2.7% YoY in November.

The Pound Sterling (GBP) recovers intraday losses and edges higher to near 1.2770 against the US Dollar (USD) in Wednesday’s North American session.

Reserve Bank of Australia (RBA) Deputy Governor Andrew Hauser said in a scheduled speech in Sydney on Wednesday that the “direct impact of any US tariffs on Australia is likely to be limited.” Additional quotes A global trade war would hit activity, but much depends on how China would react.

The NZD/USD pair extends its gains for the second successive day, trading around 0.5780 during the European session on Wednesday.

The AUD/USD pair remains under some selling pressure for the second straight day on Wednesday and drops to the 0.6340 area, or the lowest level since November 2023 during the first half of the European session.

EUR/USD recovers intraday losses and returns above the psychological support of 1.0500 in Wednesday’s North American session after the release of the United States (US) Consumer Price Index (CPI) data for November, which showed signs of stickiness in price pressures.

Citing people familiar with the matter, Bloomberg reported on Wednesday that the Bank of Japan (BoJ) policymakers see little cost to waiting for the next rate hike.

The Aussie has bounced up from year-to-date lows with the negative bias intact.

The US Dollar is trading higher for the fourth consecutive day although bulls have been halted at 0.8850 with investors awaiting the reading of November’s US CPI figures.

The Pound Sterling registered decent gains of over 0.20% against the Japanese Yen in early trading during Wednesday's North American session despite the lack of a catalyst boosting the former.

The USD/JPY rose some 0.37% early in the North American session as traders digested the release of November US Consumer Price Index (CPI) figures, which came as expected by the consensus.