Overnight, the dollar remained broadly lower against a basket of other major currencies on Wednesday, after data showed that U.S. durable goods orders fell unexpectedly in February, fuelling fresh uncertainty over the strength of the economy.
In a report, the U.S. Commerce Department said that total durable goods orders, which include transportation items, declined 1.4% last month, compared to expectations for a gain of 0.4%. Orders for durable goods in January were revised down to a 2.0% gain from a previously reported increase of 2.8%.
Core durable goods orders, excluding volatile transportation items, inched down 0.4% in February, disappointing forecasts for a 0.3% gain. Core durable goods orders were flat in January, whose figure was revised from previously reported gain of 0.3%.
The report came a day after data showing an uptick in underlying U.S. inflation fuelled speculation that the Federal Reserve would still have leeway to tighten monetary policy even with inflation running below target.
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