LONDON, Aug 25 (AFP) - The dollar was steady Wednesday despite disappointing US durable goods data, with the market treading water ahead of second-quarter US growth figures on Friday.
The single European currency edged up to 1.2094 dollars from 1.2079 late on Tuesday in New York.
The dollar rose to 110.37 yen from 109.59 on Tuesday.
Total durable goods orders rose 1.7 percent in July from June, much better than the consensus for a rise of around one percent. However, excluding a 5.6 percent gain in transportation goods, core durable goods orders were up just 0.1 percent, well below consensus for a 1.3 percent rise.
"The core number was not very good, but the market largely ignored it," said Marios Maratheftis, forex strategist at Standard Chartered.
Reports of two Russian passenger jets crashing and the possibility of terrorist involvement, as well as intensified fighting in the Iraqi city of Najaf, served to dampen sentiment slightly, analysts said.
The next focus will be on the US growth data. Many market participants have already downgraded their expectations, with the consensus now for a rise of around 2.7 percent, though there remains a risk that the number will come in even lower.
"The risks are skewed to the downside. With most of the good news already priced in to the dollar, we should get back to a bearish theme on the dollar soon, maybe after the GDP (gross domestic product) data," Maratheftis said.
Recent positive comments by Fed officials have boosted the dollar lately, affirming their belief that recent weak figures represents no more than a temporary 'soft patch' in the US economy, which they say is poised to resume its recovery. They also played down the effects of high oil prices.
Federal Reserve chairman Alan Greenspan is set to speak on Friday, and the market will be watching to see whether he reiterates these comments.
Elsewhere, the yen was weaker as oil prices picked up again today and on a rebound after performing strongly recently.
Trading generally remains rangebound amid a northern hemisphere summer lull, however, with the market waiting for US August non-farm payrolls data next Friday for direction.
The euro was changing hands at 1.2094 dollars against 1.2079 late on Tuesday in New York, 132.97 yen (132.37), 0.6728 pounds (0.6737) and 1.5393 Swiss francs (1.5369).
The dollar stood at 110.37 yen (109.59) and 1.2727 Swiss francs (1.2724).
The pound was at 1.7974 dollars (1.7921), 198.34 yen (196.38) and 2.2868 Swiss francs (2.2806).
On the London Bullion Market, the price of an ounce of gold stood at 406 dollars compared with 406.20 dollars late on Tuesday.