Investing.com - The dollar was broadly lower against a basket of other major currencies on Wednesday, as sentiment on the greenback weakened ahead of a highly anticipated final report on first quarter U.S. growth.
The dollar had found support after the U.S. Commerce Department reported on Tuesday that new home sales jumped by 2.2% to 546,000 units last month, hitting the highest level since February 2008.
Investors were eyeing an upcoming report on first-quarter U.S. growth due later Wednesday for further indications on the timing of a rate hike by the Federal Reserve.
The safe-haven greenback also strengthened after euro zone finance ministers failed to reach agreement over Greece’s bailout at an emergency meeting on Monday.
Fresh talks were scheduled on Thursday, leaving just 48 hours for a detailed agreement to be finalized.
The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was down 0.25% at 95.37, off Tuesday's seven-day peak of 95.89.
EUR/USD rose 0.30% to 1.1197 as Greek Prime minister Alexis Tsipras was heading for emergency talks with the International Monetary Fund and the European Central Bank, amid mounting concerns that a deal will not be reached by the end of the day.
The meeting came after euro zone finance ministers failed to reach agreement over Greece’s bailout at an emergency meeting earlier in the week, as creditors rejected the reform proposals made by the Greek government,
The single currency shrugged off data earlier Wednesday showing that German business confidence fell to a four-month low in June, dampening optimism over the health of the euro zone’s largest economy.
In a report, the German research institute, Ifo said its Business Climate Index fell to 107.4 this month, down from a reading of 108.5 in May and missing forecasts for 108.1.
The pound was also higher, with GBP/USD up 0.20% to 1.5762.
Elsewhere, the dollar was lower against the yen and the Swiss franc, with USD/JPY down 0.10% to 123.81 and with USD/CHF slipping 0.20% to 0.9321.
The Australian and New Zealand dollars were higher, with AUD/USD up 0.08% at 0.7742 and with NZD/USD gaining 0.39% to 0.6881.
Meanwhile, USD/CAD slid 0.24% to trade at 1.2296.