SYDNEY: Stocks and commodities rose in relief on Wednesday and the dollar hit a six-week low after U.S. Federal Reserve Chair Jerome Powell sounded less hawkish than expected in testimony to Congress, while economic data showed more room for policy easing in China.
Treasuries have also steadied after beginning the year with a rout, though a new test looms later in the day when U.S. inflation data is expected to come in red hot.
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