US Dollar extends fall to new session low

The US Dollar Index (DXY) – which tracks the greenback vs. its main rivals, stays under pressure during the NA session on Wednesday amid falling bond yields. After struggling to recover above 100.70, the index broke below 100.50 to renew its daily low. At the moment, the index is losing 0.15% at 100.48.

Geopolitical concerns continue to weigh on the risk sentiment, making the safer Treasury bonds more desirable. The yield on the 10-year U.S. Treasury is at 2.28%, lower 1.43% on the day. The tension between Russia and the United States rose today as Secretary of State Rex Tillerson visited Russia on Wednesday. 

"One could say that the level of trust on a working level, especially on the military level, has not improved but has rather deteriorated," Putin said in an interview broadcast on Russian television moments after Tillerson sat down with Russian Foreign Minister Sergei Lavrov in an ornate hall, as per Reuters reports.

• US stocks slightly weaker during opening trade, geopolitical worries weigh

Now markets turn their attention to the Monthly Budget Statement that is scheduled to be released at 18:00 GMT. Fed's Kaplan's comments were largely ignored as they haven't offered any new insights to the monetary policy outlook.

• Fed's Kaplan: US probably can't boost GDP growth anymore by increasing debt

Technical levels

The index is facing the initial support at 100.30 (Apr. 6 low) followed by 100 (psychological level) and 99.50 (Mar. 23 low). To the upside, resistances could be found at 100.70 (daily high), 101.25 (Monday high) and 102 (psychological level).