The U.S. dollar declined against the most major currencies after the weaker-than-expected U.S. durable goods orders and gross domestic product (GDP). The U.S. durable goods orders declined 1.0% in May, missing expectations for a 0.1% fall, after a 0.6% fall in April. The U.S. core durable goods orders (excluding transportation) decreased 0.1% in May, missing expectations for a 0.3% gain, after 0.3% rise in April.

The U.S. durable goods orders excluding defence increased 0.6% May, after a 0.8% decline in April.

The U.S. GDP dropped 2.9% in the first quarter, missing expectations for a 1.7% decline, after a 1.0% decline the previous quarter.

The euro increased against the U.S. dollar. The Gfk consumer climate index is expected to increase to 8.9 in July from 8.6 in June. June's figure was revised up from 8.5. Analysts had expected the index to rise to 8.6.

The British pound traded higher against the U.S. dollar. The Confederation of Business Industry released retail sales for the U.K. The CBI retail sales volume balance dropped to +4 in June from +16 in May. That was the lowest level since November 2013. Analysts had expected an increase to +25.

The Swiss franc traded higher against the U.S. dollar. The UBS consumption indicator for Switzerland climbed to 1.77 points in May from a revised 1.68 points in April.

The New Zealand dollar surged against the U.S dollar in the absence of any major economic reports in New Zealand.

The Australian dollar rose against the U.S. dollar in the absence of any major economic reports in Australia.

The Japanese yen traded higher against the U.S. dollar. The corporate service price index (CSPI) in Japan increased 3.6% in May, exceeding expectations for a 3.2% gain, after a 3.4% rise in April.