After two successive days of solid gains, the U.S. dollar was quite subdued on Wednesday, as traders seemed to take some profits ahead of the upcoming monetary policy meeting of the Federal Reserve.
Data from the U.S. Commerce Department that showed a substantial rebound in new home sales in the month of June weighed on greenback a bit.
The dollar index, which dropped to a low of 97.55 in the morning session, recovered well as the session progressed and was last seen hovering around 97.70, after rising to 97.75.
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Forex News
May 22, 2026 14:46 ET Minutes of the latest Fed policy session was the highlight of the week along with survey data on the U.S. housing market. In Europe, survey data signaled the trends in the euro area private sector. Further, consumer price inflation data from the U.K. was in focus. In Asia, various economic indicators from China drew attention to the health of the economy.