In Asian Equity Markets stocks steadied on Thursday, taking comfort from company earnings, while a collapse in the yen after Japan doubled down on anchoring bond yields drove the dollar toward its highest levels in decades. MSCI’s broadest index of Asia-Pacific shares outside Japan rose 0.6 percent, led by a 1 percent bounce in Australia’s commodity-heavy bourse. Japan’s Nikkei rose 1.5 percent and was heading for its best day in two weeks as investors cheered the weaker currency and Bank of Japan’s vows of policy support. Japanese government bonds had their best rally in a month.

In Currency Markets the dollar shot to two-decade highs on the yen on Thursday after the Bank of Japan (BOJ) doubled-down on its super-low yield policy by offering to buy endless amounts of bonds every session as needed. Against the Japanese yen, the dollar increased 1.3 percent to 129.70 yen and levels not seen since 2002, threatening the psychological 130.00 barrier. The euro also slid to a five-year low of $1.0510, bringing its losses for the month to 5 percent, which would be its worst pummelling since early 2015.

In US Equity Markets the S&P 500 ended higher on Wednesday following a steep decrease the day before, with strong revenue forecasts from Microsoft and Visa helping to alleviate worries about slowing global economic growth and rising interest rates. The Dow rose 0.19 percent to end at 33,301.93 points, while the S&P 500 gained 0.21 percent to 4,183.92. The Nasdaq Composite fell 0.01 percent to 12,488.93. Planemaker Boeing Co lost 7.5 percent after it said it was halting production of 777X jets through 2023 due to certification problems, as well as weak demand for the wide-body jet.

In Commodities Markets oil prices rose modestly on Wednesday due to ongoing concerns about tight worldwide supply, underscored by another drawdown in U.S. distillate and gasoline inventories. Brent crude futures settled up 33 cents to $105.32 a barrel, while U.S. West Texas Intermediate crude settled up 32 cents to $102.02 a barrel. Spot gold fell 0.8 percent to $1,890.29 per ounce. Spot silver fell 0.4 percent to $23.40 per ounce, having earlier touched a low since Feb. 15. Platinum fell 0.3 percent to $918.04 per ounce, while palladium rose 1.2 percent to $2,211.88.

In European Equity Markets stocks broke a three-day losing streak on Wednesday as basic materials stocks rose 4.5 percent, while Russian energy giant Gazprom halting gas supplies to Bulgaria and Poland and a plunge in German consumer morale kept gains in check. The pan-European STOXX 600 rose 0.7 percent after having hit six-week lows at the open. German shares, which underperformed through the session, rallied at close. Deutsche Bank’s 5.6 percent slide after warning that the Russia-Ukraine conflict could hurt full-year results, capped gains.

In Bond Markets Treasury yields rose at the long end on Wednesday after the prior day’s rally as investors awaited greater clarity on the “restrictive” policy the Federal Reserve plans to pursue next week to combat inflation by curbing economic growth. The yield on 10-year Treasury notes was last up 5.2 basis points to 2.824 percent, rebounding from earlier declines in yields across the curve. The yield on the 30-year Treasury bond was up 4.4 basis points at 2.914 percent. The two-year U.S. Treasury yield was up 0.7 basis point at 2.589 percent.