SummarySummary Companies U.S. housing starts surge; dollar drifts higherTraders await UK CPI and Powell testimonySINGAPORE, June 21 (Reuters) - The U.S. dollar was firm in Asia trade on Wednesday following surprisingly strong U.S. housing data, while the yuan and Aussie dollar nursed losses and focus turned to Federal Reserve Chair Jerome Powell's appearance before Congress later in the day.
The yen was also firm at 140.50 per dollar ahead of an appearance by Bank of Japan Governor Kazuo Ueda on Wednesday.
The Aussie and yuan were Tuesday's largest losers and were in no mood for a bounce early on Wednesday.
The yuan fell about 0.3% overnight and in offshore trade early on Wednesday the currency was pinned at 7.1826 per dollar, near a seven-month low.
It is under pressure after the central bank flagged it was finished with hikes, while data showed the economy in recession.
Persons:
Powell, Jerome Powell's, they'd, Kazuo Ueda, Li Qiang, Tuesday's, Joe Capurso, steadying, Mieneke Perniskie, Sterling, Daniela Hathorn, Bitcoin, Citadel Securites, Charles Schwab, Tom Westbrook
Organizations:
CPI, U.S, Federal, Traders, Bank of Japan, Commonwealth Bank of Australia, New Zealand, Bank of England, Fidelity, Citadel, Thomson
Locations:
SINGAPORE, Asia, China, Europe, Kiwibank, Wellington