Dollar finds footing on housing data as yuan falters
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. Traders discounted it somewhat since the jump wasn't led by a leap in permits, but it still gave the dollar a boost ahead of Powell's testimony. The Aussie and yuan were Tuesday's largest losers and were in no mood for a bounce early on Wednesday.