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US Dollar Falls Early Wednesday Ahead of Light Data Release Schedule

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The US dollar fell against its major trading partners early Wednesday ahead of a light day that includes only weekly Redbook same-store sales at 8:55 am ET before busy release schedules on Thursday and Friday.

Earlier Wednesday, the Mortgage Bankers Association reported that mortgage applications fell in the week ended Sept. 4 as 30-year mortgage rates hit their highest point since June 2025.

A quick summary of foreign exchange activity heading into Wednesday:

EUR/USD rose to 1.1638 from 1.1624 at the Tuesday US close and 1.1616 at the same time Tuesday morning. There are no Eurozone data on Wednesday's schedule, but European Central Bank President Christine Lagarde is due to speak at 1:00 pm ET. The next European Central Bank meeting is scheduled for Thursday, when a 25-basis point rate increase is expected.

GBP/USD rose to 1.3553 from 1.3539 at the Tuesday US close and 1.3537 at the same time Tuesday morning. There are no UK data on Wednesday's schedule. The next Bank of England meeting is scheduled for Sept. 17.

USD/JPY fell to 153.3811 from 153.9822 at the Tuesday US close and 154.2572 at same time Tuesday morning. Japanese business sentiment improved in August according to data released overnight. The next Bank of Japan meeting is scheduled for Sept. 17-18.

USD/CAD fell to 1.3774 from 1.3782 at the Tuesday US close and 1.3804 at the same time Tuesday morning. Canadian consumer sentiment data for September are due to be released at 11:00 am ET. The next Bank of Canada meeting is scheduled for Oct. 28.

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