The Australian dollar weakened against other major currencies in the Asian session on Wednesday amid risk aversion, as traders largely refrained from making significant moves after hawkish comments from a few U.S. Fed officials again raised concerns about the outlook for interest rates.

Minneapolis Federal Reserve President Neel Kashkari suggested interest rates may need to remain at current levels for an "extended period." He added that he could not rule out the Fed once again raising rates, calling the bar for hiking rates "quite high" but "not infinite.

Fed Bank of Richmond President Thomas Barkin said Monday that he feels the risks are weighted towards more inflation. New York counterpart John Williams said that the timing of rate cuts will depend on the totality of the incoming data.

Crude oil prices settled slightly lower amid concerns about the outlook for global oil demand. West Texas Intermediate Crude oil futures for June ended lower by $0.10 at $78.38 a barrel.

In the Asian trading today, the Australian dollar fell to a 1-week low of 1.0969 against the NZ dollar, from yesterday's closing value of 1.0987. The aussie may test support near the 1.08 region.

Against the U.S. dollar and the euro, the aussie slid to 5-day lows of 0.6569 and 1.6349 from Tuesday's closing quotes of 0.6589 and 1.6315, respectively. If the aussie extends its downtrend, it is likely to find support around 0.64 against the greenback and 1.66 against the euro.

Against the yen and the Canadian dollar, the aussie edged down to 101.83 and 0.9033 from yesterday's closing quotes of 101.97 and 0.9049, respectively. On the downside, 98.00 against the yen and 0.88 against the loonie are seen as the next support levels for the aussie.

Meanwhile, the safe-haven currency or the U.S. dollar strengthened against other major currencies in the Asian session amid risk aversion.

The U.S. dollar rose to 5-day highs of 1.0738 against the euro and 0.5983 against the NZ dollar, from yesterday's closing quotes of 1.0749 and 0.5997, respectively. If the greenback extends its uptrend, it is likely to find resistance around 1.06 against the euro and 0.58 against the kiwi.

Against the pound and the yen, the greenback advanced to 6-day highs of 1.2484 and 155.29 from Tuesday's closing quotes of 1.2501 and 154.77, respectively. On the upside, 1.23 against the pound and 161.00 against the yen are seen as the next resistance levels for the greenback.

The greenback edged up to 0.9093 against the Swiss franc, from Tuesday's closing value of 0.9085. The next resistance levels for the greenback is seen around the 0.91 region.

Against the Australia and the Canadian dollars, the greenback climbed to 1-week highs of 1.0969 and 1.3756 from yesterday's closing quotes of 1.0987 and 1.3734, respectively. The greenback may test resistance around 1.08 against the aussie and 1.38 against the loonie.

Looking ahead, U.K. BBA mortgage rate data for April is due to be released at 5:00 am ET in the European session.

In the New York session, U.S. MBA mortgage approvals data and U.S. EIA crude oil data are slated for release.

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