At 07:00 (AEST), the Australian dollar was buying 79.15 U.S. cents, unchanged from 79.15 U.S. cents on Tuesday.
U.S. Fed Chair Jerome Powell testified to Congress that it will maintain its accommodative stance for some time. Bond yields were range bound, while currencies were mixed.
"The U.S. dollar index is up 0.20 percent on the day. AUD slipped from 0.7920 to 0.7880 before consolidating around 0.7900," Westpac Bank economists said in a morning note.
At 09:00 (AEST), the local unit was buying 79.04 U.S. cents.
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