The Australian dollar went higher and the Japanese only continued to fall on Wednesday as markets were more positive on riskier assets and high commodity prices pushed developments.

The Australian dollar against the yen reached its highest level since December 2015 and has strengthened by 8% in March to date.

Against the dollar, the Australian dollar reached a four-and-a-half-month high at $ 0.7477 at the start of trading, gaining 0.95 percent overnight, while only falling to a low of 121.4 per dollar after the dollar reached 1.1 percent. Japanese currency overnight.

ANZ analysts broke Australia's resistance at $ 0.745 due to stock and commodity gains, adding that “global risk sentiment remains to keep the AUD outlook focused.

European and US stock markets strengthened on Wednesday because - with the exception of commodities - investors refused to worry about the market and the economic consequences of the Ukrainian war. [MKTS / GLOB]

However, high commodity prices are not good news for yen, as Japan imports most of its energy, which widenes the country's trade deficit.

"USD-JPY has nowhere to go but up," analysts at TD Securities said, pointing to the difference between US and Japanese rates and the yen's weakness in the continuing commodity shock.

The US benchmark 10-year yield rose 2.4026 percent in early Asian hours on Wednesday, still supported by a speech by Jerome Powell of the US Federal Reserve on Monday, which opened the door to higher interest rates to increase by 25 basis points in future policies. meeting. reduce inflation.

"A number of other Fed spokesmen have jumped on President Powell's aggressive walk," ING analysts said. Powell himself will have to speak again in a busy week to public comments on the Fed's policy markets. However, rising yields in the US have not had much of an impact on the dollar, as investors say most of the growth is in price.

The dollar index, which measures the dollar against its six main counterparts, is at 98,456, while the euro is changing slightly at $ 1.1022.

Sterling reached $ 1.3279 at its highest level against the dollar in nearly three weeks, while attention was focused on British inflation data and a spring statement by British Treasury Secretary Rishi Sunaka, both scheduled for later on Wednesday. [GBP /]

In the cryptocurrency markets, bitcoin is hovering around $ 42,400, holding its overnight gain, and ether just below $ 3,000.