India, Feb. 14 -- The Australian dollar was higher against its major counterparts in the New York session on Wednesday, as U.S. stocks rebounded following a sell-off in the previous session.
Hotter-than-expected inflation data released on Tuesday raised expectations that the Federal Reserve is not likely to cut rates before the policy meeting in June.
Investors scaled back expectations for interest rate cuts from the Fed and now expect three 25-basis-point cuts this year.
U.S. economic reports on weekly jobless claims, retail sales, industrial production and import and export prices are due this week.
Survey results from NAB showed that Australia's business conditions weakened in January and confidence remained weak despite a marginal i...