In Asian Equity Markets indices rose on Wednesday, tracking gains seen on Wall Street amid earnings season news and following upbeat remarks from Federal Reserve Chairman Jerome Powell during his congressional testimony. In Tokyo, the Nikkei 225 rose 0.94 percent, adding to three prior consecutive sessions of gains and leading gains in the region. Exporters rose as the yen remained weak, with automakers tacking on 1.45 percent. Over in Seoul, gains on the Kospi, which traded higher by 0.29 percent, were driven by the significant moves higher in tech stocks.

In Currency Markets the US dollar rose across the board on Wednesday, climbing to a six-month high against the yen, after Federal Reserve Chairman Jerome Powell gave an upbeat outlook for the U.S. economy and reinforced views that the Fed was on track to steadily hike interest rates. The dollar was up 0.05 percent at 112.955 yen after going as high as 113.08, its strongest since January 9. The euro fell 0.05 percent to $1.1653 after losing 0.4 percent overnight. The pound was little changed at $1.3110 after slipping 1 percent the previous day.

In Commodities Markets oil prices fell on Wednesday after an industry group reported that U.S. crude inventories rose last week, defying analyst expectations for a significant reduction. Brent futures were down 31 cents, or 0.4 percent, at $71.85 a barrel. They rose 32 cents to $72.16 a barrel on Tuesday, after earlier touching a three-month low. U.S. West Texas Intermediate crude was down 36 cents, or 0.5 percent, at $67.72. It settled up 2 cents at $68.08 a barrel the session before, coming off a nearly one-month low.

In US Equity Markets stocks rose on Tuesday, with the Dow posting its fourth consecutive session of gains after Federal Reserve Chairman Jerome Powell expressed an optimistic U.S. economic view and solid earnings bolstered the outlook for a robust reporting period. Johnson & Johnson led the healthcare sector’s 0.5 percent advance, rising 3.5 percent after beating analysts’ profit and revenue estimates. The S&P 500 gained 0.40 percent, to 2,809.55 and the Nasdaq Composite added 0.63 percent, to 7,855.12.

In Bond Markets the U.S. two-year Treasury yield rose on Tuesday to its highest level in nearly a decade, with the yield curve at its flattest in nearly 11 years, as Federal Reserve Chairman Jerome Powell’s upbeat remarks on the economy supported traders’ view of more rate hikes. The two-year yield, which is most sensitive to traders’ views on changes in Fed policy, hit 2.615 percent, the highest since August 2008. The yield on benchmark 10-year Treasury notes was 2.860 percent, up 0.4 basis point from Monday.