After exhibiting some strength early on in the session, the U.S. dollar turned easy and lost ground against most of its major rivals on Wednesday.
In addition to digesting the durable goods orders data for the month of July, traders looked ahead to the upcoming Jackson Hole symposium, where Fed policymakers are expected to detail the timeline for tapering of the bank's bond-buying program.
data released by the Commerce Department showed durable goods orders edged down by 0.1% in July following a 0.8% increase in June. Economists had expected orders to decrease by 0.3%.
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Forex News
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.