Gold settled higher, but it was still near four week lows on fears that the Federal Reserve could hike U.S. interest rates sooner than expected.
The yen hit a five-month high against the euro on renewed safe-haven inflows as the West imposed further sanctions against Russia.
U.S. oil prices extended gains to over a dollar, hitting more than $101 a barrel as data showed U.S. oil stocks fell sharply last week.
Asian stocks were mixed in choppy trade on Wednesday despite better-than-expected growth data from China.
U.S. stock index futures pointed to a higher open on Wall Street ahead of Fed Chair Janet Yellen's second day of testimony.
U.S. stock index futures pointed to a flat open on Tuesday, ahead of Federal Reserve Chair Janet Yellen's testimony before Congress.
Treasurys whipsawed after congressional testimony from Fed Chair Janet Yellen indicated concern over 'substantially stretched' asset prices.
European shares ended the day lower, with comments from U.S. Federal Reserve Chair Janet Yellen hitting sentiment.
Gold settled below $1,300 an ounce, as the dollar rose and bullion investors focused on a Fed monetary policy report.
The dollar clung to gains after bulls latched onto a comment by the head of the Fed that rates could rise sooner if employment continued to improve.
Brent crude slipped towards $106 a barrel on Tuesday, as worries over Middle East and North Africa tensions eased.
Asian stocks were mostly higher on Tuesday as investors awaited Federal Reserve Chair Janet Yellen's two-day testimony later in the day.
Asian stocks started the week with gains on Monday as fears about Portugal's banking sector receded and as attention turned to corporate earnings.
Stocks climbed on Monday, with the S&P 500 bouncing back from weekly losses, after Citigroup's earnings beat estimates.
U.S. Treasury prices edged lower on expectations that Federal Reserve Chair Janet Yellen could take a less accommodative stance on interest rates.
European shares closed higher, with earnings news from the U.S. and merger and acquisition activity helping bourses post healthy gains.
Gold prices slid more than 2 percent as concerns over the euro zone periphery faded, triggering a rebound in stock markets.
The yen eased on Tuesday after the Bank of Japan's growth warning, but it stopped short of hinting at a new bout of money-printing.
Oil headed for its third weekly loss as worries about supply disruptions in the Middle East and North Africa eased.
Oil prices were little changed as traders weighed turbulence in the Middle East against signs of a market well-supplied with crude.
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The Japanese are hoarding over $300 billion under their mattresses that will likely stay there, barring a crisis of epic proportions.
Greece's debt drama is getting more dire, but some are shrugging off a potential default as only a hiccup in the European market rally.
Britain's economy expanded at a faster pace than previously thought at the end of last year, helped by strong growth in exports.