The dollar was mixed Wednesday morning in New York after a successful bond auction in Portugal eased renewed fears about European sovereign debt.
However, economic data from Germany showed some weakening again after a strong second quarter.
Germany's exports rose at a slower pace in July compared to June, while imports also decreased, official figures showed on Wednesday.
Meanwhile, President Barack Obama is headed to the Rust Belt this morning and is expected to announce incentives to get small businesses to spend and hire.
The Fed's Beige Book, a compilation of anecdotal information about the US economy, is due out this afternoon.
The dollar touched a fresh 15-year low of Y83.33 versus the yen overnight, but steadied to 83.80 in early dealing this morning.
Japanese officials have been unable to talk down the surging yen, which is expected to hurt the nation's export driven economy.
The buck hit a weekly high of 1.2665 versus the euro, then leveled off to 1.2720.
Portugal's cost of borrowing rose, but the debt-ridden nation managed a successful bond auction this morning. Yields rose for the 661 million euro bonds due in 2013 and 378 million euro bonds due in 2021.
The dollar dropped to a nine-day low of 1.5493 against the sterling.
U.K. manufacturing output rose for a third month, lifting the annual growth to a near 16-year high in July.
US mortgage application volume dropped slightly last week despite a notable increase in new home purchase demand, industry data revealed Wednesday morning.
Refinancing activity declined from levels near record highs, causing the Mortgage Bankers Association's Market Composite Index to drop for the first time in six weeks.
Overall mortgage applications decreased 1.5 percent on a seasonally adjusted basis from one week earlier.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.