MW: Dollar gains a bit of steam after durable goods
NEW YORK (MarketWatch) -- The dollar gained a bit of steam early Wednesday, especially against the Japanese yen, after news of an unexpected rise in orders for U.S. durable goods in May. Overall the U.S. currency remained under pressure amid caution ahead of the Federal Reserve statement on monetary policy later on Wednesday. The dollar index (DXY 79.94, +0.10, +0.13%) , which measures the U.S. unit against a basket of six major currencies, stood at 79.870, compared 79.997 in earlier trade. But the dollar did gain slightly against the yen after the data, rising to 95.45 yen compared with 95.38 ahead of the data. The Commerce Department said durable goods orders rose 1.8% in May, much better than the decline expected by economists surveyed by MarketWatch.
