Dollar dips as euro gains on talk of Ukraine ceasefire

The dollar traded largely lower against most major currencies on Wednesday as markets monitored talk of a Ukraine-Russian ceasefire, which favored the euro at the greenback's expense. Dollar slips as euro steals limelight amid talk of Ukraine ceasefire. In US trading on Wednesday, EUR/USD was up 0.09% at 1.3146. Both the greenback and the euro found support after Ukraine's President Petro Poroshenko said he had agreed with Russian President Vladimir Putin to take steps to establish a ‘permanent ceasefire’ in eastern Ukraine. By afternoon trading on Wednesday, the euro edged out the dollar, becoming the chief beneficiary of market applause for a possible ceasefire. Elsewhere, the US Census Bureau reported earlier that factory orders rose 10.5% in July, below expectations for an increase of 11%, after a revised 1.5% rise in June, though markets largely viewed the data favorably, according to investing.com