The US dollar was trading mixed against major currencies as investors marked time ahead of the release tonight of US gross domestic product data for the June quarter, dealers said. "Investors are nervously waiting for today's GDP data as well as next week's nonfarm payrolls for implications on monetary policy in the US in the near term," Chuo Mitsui Trust & Banking dealer Yousuke Hosokawa said. "But as investors now feel that the Fed is very close to ending its interest rate hike cycle, even if there will be one more rate hike, the dollar may be exposed to downside risks, rather than resume a run-up," he said. Among key data released overnight, US new home sales fell 3.0 pct to 1.131 mln over the year to June, better than market expectations of a 6.8 pct decrease but new home sales in May were revised down to an increase of 0.5 pct from the previous estimate of a 4.6 pct rise. "As the recent set of data and congressional testimony by Federal Reserve chairman Ben Bernanke suggest, the US economy now seems to be heading for a soft landing," Hosokawa said. At 12.10 pm Tokyo (0310 GMT) the euro was quoted at 1.2681 usd, compared to 1.2689 earlier and 1.2701 in late New York trades. The dollar/yen was at 115.76, down from 115.87 earlier and 115.78 in New York. The euro was easier on profit-taking after the single European currency failed to sustain its ascent above the 1.27 usd level overnight, dealers said. "Despite today's weakness, the euro is likely to continue to draw healthy buying interest, given strong expectations that the European Central Bank will offer a rate hike at its Aug 3 meeting," said Hosokawa of Chuo Mitsui Trust