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US Dollar Mixed Early Wednesday Ahead of Crude Oil Stocks, FOMC Minutes, Fed Appearances

BY MT Newswires | ECONOMIC | 08/20/25 07:40 AM EDT

07:40 AM EDT, 08/20/2025 (MT Newswires) -- The US dollar was mixed against its major trading partners early Wednesday - up versus the Euro and Canadian dollar, down versus the pound and yen -- ahead of the release of weekly oil stocks inventory data at 10:30 am ET and minutes of the June 29-30 Federal Open Market Committee meeting, where two Fed governors dissented from the decision to maintain interest rates, at 2:00 pm ET.

Fed Governor Christopher Waller, one of those who dissented at that meeting, is due to speak at 11:00 am ET. Atlanta Fed President Raphael Bostic is scheduled to speak at 3:00 pm ET.

Earlier Wednesday, the Mortgage Bankers Association said mortgage applications declined in the week ended Aug. 15 after surging in the previous week, pushed down by a small increase in mortgage rates.

A quick summary of foreign exchange activity heading into Wednesday:

EUR/USD fell to 1.1645 from 1.1647 at Tuesday US close and 1.1687 at the same time Tuesday morning. Eurozone consumer prices were flat in July while core prices declined, but the year-over-year rates were unchanged from the previous month, according to data released earlier Wednesday. European Central Bank President Christine Lagarde said overnight that the European economy faces uncertainty ahead due to the US tariffs. The next European Central Bank meeting is scheduled for Sept. 11.

GBP/USD rose to 1.3492 from 1.3490 at the Tuesday US close but was below a level of 1.3522 at the same time Tuesday morning. UK consumer price growth slowed in July, though not as much as expected, lifting the year-over-year rates for both overall and core CPI, according to data released overnight. The next Bank of England meeting is scheduled for Sept. 18.

USD/JPY fell to 147.4443 from 147.5794 at the Tuesday US close and 147.6666 at the same time Tuesday morning. The Japanese trade deficit widened further in July due to the negative impact of tariffs on exports, according to data released overnight. The next Bank of Japan meeting is scheduled for Sept. 18-19.

USD/CAD rose to 1.3875 from 1.3866 at the Tuesday US close and 1.3810 at the same time Tuesday morning. Canadian home price data for July are due to be released at 8:30 am ET. The next Bank of Canada meeting is scheduled for Sept. 17.

MT Newswires does not provide investment advice. Unauthorized reproduction is strictly prohibited.

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