The Australian dollar was trapped in a narrow range on Wednesday as it struggled to find support amid falling commodity prices and a stronger US currency. The AUD was $0.7629/34, off a two-week low of $0.7621 overnight and against $0.7680/84 late here on Tuesday, according to Reuters data.
The US dollar was aided by a retreat in the oil price to around $58 per barrel after touching an all-time high above $60.
The USD also found support from widespread expectations that the US Federal Reserve will raise interest rates following the conclusion of its two-day policy-setting meeting on Thursday.
The central bank is expected to lift rates by a quarter-percentage point to 3.25 percent, the ninth time it has raised rates in the past year. This would reduce the interest rate premium the Aussie holds over the USD to 2.25 percent.