The dollar took a breather Wednesday morning in New York, pausing from an uptrend against a basket of major currencies ahead of the latest ADP payrolls survey.
Investors will get a preview of Friday's monthly employment numbers when ADP releases its employment report at 8:15 am ET.
"We look for the ADP measure of private payroll employment to have declined by 55,000 in July, or by 20,000 less than our forecast for the official BLS count of private payroll growth of -75,000," said the analysts at Lehman Brothers.
Earlier this morning, the Mortgage Bankers Association said its seasonally adjusted index of mortgage application activity declined 14.1 percent to 420.8 in the week ended July 25.
The dollar was little changed against the euro, staying near 1.56. The buck advanced to a multi-week high of 1.5552 in the previous session.
Eurozone's economic sentiment index in July deteriorated to 89.5 from June's 94.8, recording its largest monthly fall since October 2001 to reach the lowest level since March 2003. The economic sentiment stood below the expected level of 93.
The greenback edged down a bit from its multi-week highs versus the yen, slipping to 107.85 from 108.28.
Wednesday, a report released by the Japan Automobile Manufacturers Association said automobile production continued to increase in June. However, there was a decline in domestic sales of vehicles, which was partly offset by a rise in their exports.
The buck saw choppy trading versus the sterling Wednesday morning, having leveled off from Tuesday's multi-week highs. The dollar was trading at 1.98 approaching 8 am ET, down a bit from 1.9760.
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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.