The dollar edged higher against the euro and yen Wednesday after official data showed an unexpectedly large increase in the sale of durable goods by U.S. companies in July.
The WSJ dollar index , a broad measure of the dollar’s strength, was up 0.6% to 87.85, on track to rise for a second consecutive session.
Chinese stocks edged lower Wednesday during the Asia trading session, but a decision by Chinese policy makers to pump 140 billion yuan into the financial system helped calm nervous markets and push the dollar higher.
The U.S. dollar has been particularly sensitive to market turmoil in China over the past week, as investors debate whether trouble in the world’s second-largest economy might prevent the Federal Reserve from raising the fed-funds rate, its benchmark interest rate, in September.
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