07:32 AM EDT, 04/22/2026 (MT Newswires) -- The US dollar fell against its major trading partners early Wednesday before the release of state-level unemployment data for February at 10:00 am ET and weekly oil stocks data at 10:30 am ET.

Earlier Wednesday, the Mortgage Bankers Association said mortgage applications jumped in the week ended April 17 as the ceasefire in the Middle East pushed mortgage rates lower.

A quick summary of foreign exchange activity heading into Wednesday:

EUR/USD rose to 1.1753 from 1.1726 at the Tuesday US close, but was below a level of 1.1760 at the same time Tuesday morning. European Central Bank policy board member Philip Lane is due to speak at 9:15 am ET, followed by Eurozone consumer confidence data for April at 10:00 am ET and an appearance by ECB President Christine Lagarde at 1:30 pm ET. The next European Central Bank meeting is scheduled for April 30.

GBP/USD rose to 1.3517 from 1.3482 at the Tuesday US close and 1.3510 at the same time Tuesday morning. UK consumer prices rose more than expected in March, lifting the year-over-year rate, but core price growth slowed, data released earlier Wednesday showed. The next Bank of England meeting is scheduled for April 30.

USD/JPY fell to 159.2427 from 159.6204 at the Tuesday US close, but was above a level of 159.2184 at the same time Tuesday morning. The Japanese trade surplus grew sharply in March, according to data released overnight. The next Bank of Japan meeting is scheduled for April 27-28.

USD/CAD fell to 1.3656 from 1.3662 at the Tuesday US close and 1.3659 at the same time Tuesday morning. Canadian new home price data for March is due to be released at 8:30 am ET. The next Bank of Canada meeting is scheduled for April 29.