The Commerce Department is scheduled to release its trade balance report for March at 8:30 am ET Wednesday. Economists expect a deficit of $41.4 billion for the month.

The greenback slipped against the other major currencies before the data.

The greenback was worth 1.1524 against the euro, 106.35 against the yen, 0.9535 against the franc and 1.4538 against the pound as of 8:25 am ET.

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