Following the release of U.S. ADP private payrolls for June at 8:15 am ET Wednesday, the greenback dropped against its major counterparts.

The greenback was trading at 107.64 against the yen, 0.9841 against the franc, 1.1297 against the euro and 1.2583 against the pound around 8:16 am ET.

The U.S. weekly jobless claims for the week ended June 29 and trade data for May are due at 8:30 am ET.

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