During European late morning trade, the dollar fell to session lows against the yen, with USD/JPY down 0.40% to 99.86 as traders locked in profits following the dollar’s gains on Wednesday.
The dollar gained ground against the other major currencies on Wednesday after official data showed that U.S. new home sales jumped to a five-year high in June.
The dollar edged higher against the euro, with EUR/USD dipping 0.06% to 1.3192.
Earlier Thursday, data showed that the Ifo index of German business climate ticked up to 106.2 in July from 105.9 In June, slightly better than expectations for a reading of 106.1.
Elsewhere, the dollar was higher against the pound with GBP/USD down 0.22% to 1.5280.
Data released on Thursday showed that economic growth in the U.K. accelerated to 1.4% on a year-over-year basis in the second quarter, in line with expectations. The U.K. economy grew by 0.3% year-on-year in the first quarter.
The U.K. economy expanded 0.6% quarter on quarter, after a 0.3% expansion in the first quarter.
The dollar edged higher against the Swiss franc, with USD/CHF inching up 0.07% to 0.9380.
The greenback was mixed against its Australian, New Zealand and Canadian counterparts, with AUD/USD sliding 0.13% to 0.9157,NZD/USD jumping 0.93% to 0.8015 and USD/CAD slipping 0.08% to 1.0304.
The Reserve Bank of New Zealand left its benchmark interest rate on hold at 2.5% on Thursday and indicated that it may hike rates in early 2014.
"Although removal of monetary stimulus will likely be needed in the future, we expect to keep the official cash rate unchanged through the end of the year," said Governor Graeme Wheeler.
The dollar index, which tracks the performance of the greenback versus a basket of six other major currencies, inched up 0.03% to 82.40.
The U.S. was to produce official data on initial jobless claims and durable goods orders later Thursday.
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