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.
For comments and feedback contact: editorial@rttnews.com
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.