The dollar traded close to a 2-1/2-week high versus major peers on Wednesday while copper hit an all-time peak overnight after U.S. President Donald Trump broadened his global trade war by threatening a 50% tariff on the metal.

—Asian stock markets mostly advanced Tuesday after President Trump unveiled his three-week extension to negotiate trade agreements, spurring mild hopes for deals following punishing U.S. tariffs. Japan’s Nikkei 225 index gained 0.3%, and Hong Kong’s Hang Seng gained 1%. China’s benchmark Shanghai Composite gained 0.7%.