The Labor Department's Consumer Price Index for March will be issued at 8.30 am ET Wednesday. The inflation is expected to stagnate on a monthly basis, compared to a 0.2 percent rise in February.

Ahead of the data, the greenback traded mixed against its major counterparts. While the greenback rose against the pound, it fell against the rest of major counterparts.

The greenback was worth 106.78 against the yen, 0.9572 against the franc, 1.2391 against the euro and 1.4186 against the pound as of 8:25 am ET.

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