The Australian dollar remains range-bound as investors await economic news or data to give the currency some direction.
At 1700 AEDT on Wednesday, the local unit was trading at 89.25 US cents, up from 89.19 cents on Tuesday.
The Australian dollar traded within a narrow range throughout the day, with little news or data to drive the market, FXCM market analyst David de Ferranti said.
He said the minutes from the US Federal Reserve's December meeting, when it decided to begin tapering its bond-buying program, would likely have little impact on the Australian dollar but the upcoming US jobs report could provide some direction for the currency.
"(The minutes) are unlikely to offer major revelations given the level of insight offered by Ben Bernanke during the press conference after the event, as well as the numerous speeches from Fed officials in recent weeks," Mr de Ferranti said.
"This implies the minutes may have relatively little effect on the exchange rate.
"While the first cut to the Fed's asset purchase program has been announced, the currently anticipated $US10 billion-a-month reduction plan remains contingent on continued improvements in the US labour market.
"A weak reading from Friday's US jobs data alone would not be enough to put the brakes on a move towards monetary policy normalisation, yet it may create some short-term weakness in the greenback and keep the Aussie supported above 88.50 US cents."