Asia markets on Wednesday are likely to focus on Federal Reserve Chair Janet Yellen's overnight speech as North Korea tensions take a backseat.
Fed Chair Janet Yellen's speech on Tuesday was regarded as slightly hawkish by market watchers after she said the central bank had to continue raising interest rates gradually in the face of "significant uncertainties."The greenback touched a one-month high following Yellen's comments, although it later gave up some gains.
In currencies, the euro fell to its lowest levels in a month overnight, trading at $1.1789 at 6:43 a.m. HK/SIN. The common currency had slid following a weekend election in Germany, which delivered Chancellor Angela Merkel a fourth term, but also a need to form a coalition.
On the energy front, oil prices fell overnight after touching 26-month highs. Brent crude sank 1 percent to settle at $58.44 a barrel and U.S. crude declined 0.7 percent to settle at $52.43.
Source: Bloomberg Pro Terminal
Trader Bozhidar Arabadzhiev
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