In Asian Equity Markets Japan’s Nikkei 225 rose 0.43 percent in morning trade while the Topix advanced 0.15 percent. Shares of Fast Retailing, the company behind the Uniqlo chain of apparel stores, gained more than 2 percent. South Korea’s Kospi also added 0.14 percent, as Hyundai Motor shares jumped around 4 percent after the company rejected on Tuesday a payout call by activist investor Elliot Management. The ASX 200 in Australia rose 0.31 percent, with majority of the sectors advancing. Hong Kong’s Hang Seng index also rose 0.5 percent.

In Currency Markets the U.S. dollar remained near a three-week low on Wednesday after Federal Reserve Chairman Jerome Powell reiterated that the central bank would stay patient on monetary policy and as the pound rallied. Sterling had rallied on Tuesday after British Prime Minister Theresa May offered lawmakers the chance to vote on delaying Brexit, opening up the possibility of avoiding a chaotic no-deal departure from the European Union. The pound was up 0.1 percent at $1.1361 after surging more than 1 percent overnight to a five-month peak of $1.3288.

In Commodities Markets oil prices rose on Wednesday after a report of declining crude inventories in the country and as producer club OPEC seemed to stick to its supply cuts despite pressure from U.S. President Donald Trump. U.S. West Texas Intermediate (WTI) crude oil futures were at $56.02 per barrel, up 52 cents, or 0.9 percent, from their last settlement. International Brent crude futures were at $65.55 per barrel, up 34 cents, or 0.5 percent from their last close. U.S. crude oil inventories fell by 4.2 million barrels in the week to Feb. 22, to 444.3 million barrels, API said on Tuesday.

In US Equity Markets equities swerved between positive and negative territory on Tuesday as investors eyed mixed economic data and corporate news while Federal Reserve comments calmed some nerves. The S&P 500 was up 0.18 percent, higher at 2,801.1 and the Nasdaq Composite added 0.19 percent, to 7,568.57. Nine of the 11 major S&P sectors were higher. JPMorgan Chase & Co, the biggest U.S. bank by assets, warned that it expects rising costs for deposits, a key part of its business, and slowing global economic growth. Share were down 1 percent.

In Bond Markets U.S. Treasury yields fell on Tuesday as Federal Reserve Chair Jerome Powell stood by the central bank’s “patient” stance before raising interest rates again, even as he expected solid economic growth in 2019. The yield on U.S. benchmark 10-year Treasury notes was down 3 basis points at 2.64 percent, which was at the lower end of its trading range in February. On the supply front, the U.S. Treasury Department’s sale of $32 billion in a seven-year auction fetched a yield of 2.538 percent, which was the lowest yield at a seven-year auction since December 2007.