Forex - Aussie dollar weakens before NAB survey, U.S.dollar gains on yen

Investing.com - The Australian dollar drifted lower in early Asian trade on Tuesday ahead of a closely watched survey by National Bank of Australia on business confidence and conditions for October, while the dollar gained against the yen on continued expectations the U.S. Federal Reserve will start to taper its stimulus program soon.

AUD/USD traded at 0.9356, down 0.05%, and in a range of 0.9345 - 0.9390 ahead of the NAB survey at 1130 local time (0030 GMT), which is said to be closely watched by the Reserve Bank of Australia as a leading indicator to assess prospects for the economy.

USD/JPY traded at 99.18, up 0.02%, and in a range of 99.16 - 99.21, on a mild resumption of strength in the Asian trading day after investors overnight locked in gains from Friday's surprisingly strong October jobs report and sold the unit for profits.

On Friday, the Bureau of Labor Statistics reported that the U.S. economy added 204,000 jobs in October, far surpassing expectations for a 125,000 increase.

On the Japanese data from for Tuesday is the October consumer confidence survey at 1400 local time (0500 GMT) expected to show a reading of 46.3, up from 45.4 in September.

EUR/USD held steady at 1.3405 in early Asian tr
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