In early Asian deals on Wednesday, the U.S. dollar rose to multi-day highs against most major currencies on speculation the extension of tax cuts and unemployment benefits will help sustain the fragile US recovery.
Asian stocks are trading mixed today. While the stock markets in Australia, China, Hong Kong and South Korea are trading lower, the markets in Japan, New Zealand, Singapore and Taiwan are trading higher.
The dollar advanced against the euro in early Asian deals on Wednesday. The dollar is currently trading at a 5-day high of 1.3225 per euro with 1.297 seen as the next upside target level. The euro-dollar pair closed yesterday's trading at 1.3263.
During early Asian session on Wednesday, the dollar strengthened against the pound. The dollar is now worth 1.5730 against the pound, compared to Tuesday's close of 1.5757. The next upside target level for the dollar is seen at 1.566.
The dollar climbed to a 5-day high of 83.74 against the yen in early Asian deals on Wednesday. If the dollar gains further, it may find resistance around the 84.4 level. The dollar-yen pair was worth 83.52 at yesterday's close.
Japan's current account, core machinery orders and bank lending data, which were released earlier in the day likely influenced the yen.
In early Asian deals on Wednesday, the dollar rose to a 5-day high of 0.9893 against the Swiss franc. This may be compared to yesterday's closing value of 0.9879. On the upside, 1.00 is seen as the next target level for the U.S. currency.
The U.S. dollar soared against its Australian, New Zealand and Canadian counterparts in early Asian session on Wednesday. The greenback is currently trading at a 5-day high of 0.9804 against the aussie, 6-day high of 0.7523 against the kiwi and 1.0132 against the loonie, compared to yesterday's close of 0.9829, 0.7571 and 1.0125, respectively. If the greenback advances further, it may target 0.740 against the NZ dollar, 0.970 against the aussie and 1.026 against the Canadian dollar.
The NZ dollar declined today in Asian session after reports showed that the nation's construction and manufacturing activity contracted in the third quarter.
Trade balance reports from Germany and France for October, Bank of France business sentiment index for November and German industrial production for October are expected to influence trading in the upcoming European session.
There are no major economic reports due from the U.S. today.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.