08:10 AM EDT, 06/11/2025 (MT Newswires) -- The US dollar rose against its major trading partners early Wednesday, except for a decline versus the euro, ahead of the release of May consumer price index data at 8:30 am ET.

Weekly petroleum stocks inventory data are due to be released at 10:30 am ET and the US Treasury's monthly budget statement for May is due to be published at 2:00 pm ET.

Earlier Wednesday, the Mortgage Bankers Association said mortgage applications rebounded in the week ended June 6 after a decline in the previous week, reaching their highest level in over a month. Mortgage rates ticked up only slightly in the week.

Federal Reserve officials are in their 'quiet period' ahead of the next Federal Open Market Committee meeting June 17-18.

A quick summary of foreign exchange activity heading into Wednesday:

EUR/USD rose to 1.1429 from 1.1427 at the Tuesday US close and a level of 1.1428 at the same time Tuesday morning. There are no Eurozone data on Wednesday's schedule, but European Central Bank policy board member Phillip Lane said earlier Wednesday the ECB's recent rate cut was to ensure inflation did not settle below its target, according to Reuters. The next European Central Bank meeting is scheduled for July 24.

GBP/USD fell to 1.3492 from 1.3502 at the Tuesday US close and 1.3501 at same time Tuesday morning. There are no UK data releases on Wednesday's schedule. The next Bank of England meeting is scheduled for June 19.

USD/JPY rose to 145.1869 from 144.9012 at the Tuesday US close and 144.5071 at the same time Tuesday morning. Japanese producer prices fell in May, slowing the year-over-year rate, according to data released overnight. The next Bank of Japan meeting is scheduled for June 16-17.

USD/CAD rose to 1.3687 from 1.3673 at the Tuesday US close but was below a level of 1.3694 at the same time Tuesday morning. Canadian building permits data for April are due to be released at 8:30 am ET, followed by Canadian consumer sentiment data for June at 11:00 am ET. The next Bank of Canada meeting is scheduled for July 30.