The Australian dollar has managed to stay above 90 US cents after losing ground due to weak local wages data.
At 1700 AEDT on Wednesday, the local unit was trading at 90.18 US cents, down from 90.43 cents on Tuesday.
RBC Capital Markets currency strategist Michael Turner said the local currency moderated in afternoon trade after dipping below 90 US cents.
"It's come down, and probably frustrated a few people, and we're not far off where we started the day," he said.
Australian data showed annual wage growth slowed to its weakest pace for at least 17 years.
The earlier sell off of the Australian dollar accelerated after the Australian Bureau of Statistics released the wage price index.
Total hourly rates of pay, excluding bonuses, rose by a seasonally adjusted 0.7 per cent in the December quarter, official figures show.
The Australian wage price index lifted 0.7 per cent, in seasonally adjusted terms.
The wages index rose 2.6 per cent from a year earlier, the weakest annual growth in ABS data going back to 1997.
Analysts said the wages increase was far from the desired level for the Reserve Bank of Australia as it deals with a relatively high Australian dollar and elevated inflation.
