26.04.202320:47:00UTC+00Dollar Drifts Lower Against Major Rivals

The U.S. dollar turned in a weak performance against its major counterparts on Wednesday as risk sentiment improved somewhat thanks to stronger than expected quarterly earnings from Alphabet and Microsoft.

In economic news, data from the Commerce Department showed a bigger than expected increase in U.S. durable goods orders in the month of March.

The data said durable goods orders increased by 3.2% in March after tumbling by a revised 1.2% in February. Economists had expected durable goods orders to climb by 0.8% compared to the 1% slump that had been reported for the previous month.

The dollar index, which dropped to 101.01, recovered to 101.50 and remained sticky around that level as the session progressed.

Against the Euro, the dollar weakened to 1.1040 from 1.0977, and against Pound Sterling, it dropped nearly 0.5% from 1.2409 to 1.2464.

Against the Japanese currency, the dollar is little changed at 133.67 yen. The Aussie is stronger at 0.6600, while Swiss franc is slightly firm at 0.8913 a dollar. The Loonie is slightly weak against the dollar at 1.3642.