Forex - Dollar down vs. most rivals, falls to 15-year low against yen

Forex Pros – The U.S. dollar was down against most of the other major currencies on Wednesday, falling to a fresh 15-year low against the yen, ahead of the release of the U.S. Federal Reserve’s Beige Book.

During European morning trade, the greenback was down against the euro, with EUR/USD gaining 0.07% to hit 1.2692.

Earlier in the day, official data showed that German exports fell in July, while the country’s trade balance widened less-than-expected in July.

The greenback was also down against the pound, with GBP/USD advancing 0.52% to hit 1.5439.

Earlier Wednesday, data showed that manufacturing production in the U.K. rose in line with expectations in July, while house prices in the U.K. rose unexpectedly in August.

The U.S. dollar was also down against the yen and Swiss franc, with USD/JPY shedding 0.08% to hit 83.76 and USD/CHF declining 0.33% to hit 1.0079.

Earlier in the day, Japan’s Finance Minister Yoshihiko Noda told a parliamentary committee that the government was ready to act to curb the yen’s gains in the currency market if necessary, saying "We will take decisive steps, which of course include intervention, when it becomes necessary".

Meanwhile, the greenback was up against its Canadian and New Zealand counterparts, but down against the Australian dollar, as USD/CAD gained 0.09% to hit 1.0488, NZD/USD fell 0.02% to hit 0.7195, while AUD/USD rose 0.60% to hit 0.9161.

Earlier Wednesday, official data said the number of Australian new home loan approvals rose more-than-expected in July.

The dollar index, which tracks the performance of the greenback versus a basket of six other major currencies, was down 0.10%.

Later in the day, the U.S. Federal Reserve was to release its Beige Book, a summary of the data the bank examines before setting the benchmark interest rate.