The US dollar was stable on Wednesday, while the Australian and New Zealand dollars moved away from their lowest levels. The Chinese yuan has weakened against the US dollar.

The dollar remained stable, with investors choosing to stay on the sidelines ahead of U.S. President Donald Trump's nomination of a new candidate to fill a vacancy on the Federal Reserve Board of Governors. The dollar was little changed at 147.54 yen, while the euro rose 0.02% to $1.5760. The British pound reached $1.3304

Australian and New Zealand dollars moved even further away from their multi-week lows on Wednesday as their American counterpart grappled with rising bets on a rate cut, while the kiwi found support in employment data that wasn't worse than expected. The New Zealand dollar rose 0.2% to $0.5911 but remains perilously close to a recent 15-week low of $0.5857. It is encountering resistances at $0.5932 and $0.5976

The Australian dollar rose 0.1% to $0.6476, moving away from a five-week low of $0.6419 reached last Friday. The resistance is around $0.6493 and $0.6530

The Chinese yuan weakened against a stable US dollar on Wednesday, trading in tight ranges as investors waited for key trade data and monitored developments in China-US trade to see where to go. The spot yuan opened at 7.1898 per dollar and last traded at 7.1895, which was 61 pips lower than the previous close and 0.68% lower than the midpoint

The offshore yuan traded at 7.193 yuan per dollar, down about 0.05% in Asian trade.

The yuan is up 0.2% against the dollar this month and 1.5% this year.