A report showing a sharp drop in a measure of demand for big-ticket goods erased the dollar's early gains against the euro. The reported drop in durable goods orders was behind pared gains for the greenback against the yen as well. The euro was trading at $1.2243 in recent trading, compared to $1.2218 just before the report. The common currency is up 0.1% against the dollar from where it stood late Tuesday. The dollar stands at 110.24 yen compared to 110.33 before the report, but remains up 0.3% on the day against its Japanese counterpart.