The Australian and NZ dollars moved up against their major counterparts in the Asian session on Wednesday, as Asian stocks rose, tracking gains on Wall Street overnight, in the wake of solid earnings reports and a spike in oil prices.

U.S. treasury yields retreated, pushing up tech stocks.

San Francisco Fed President Mary Daly told CNN that inflation could get worse before going to get better.

Daly added that the Fed is unlikely to be overly aggressive on rate increases.

Investors await U.S. inflation data due on Thursday, which is expected to show an increase of 7.3 percent on year in January.

The aussie climbed to 6-day highs of 0.7168 against the greenback and 1.5941 against the euro, after falling to 0.7142 and 1.5987, respectively in previous deals. The aussie is poised to find resistance around 0.74 against the greenback and 1.56 against the euro.

The aussie touched 1.0767 against the kiwi, its highest level since February 3. On the upside, 1.09 is likely found as its next resistance level.

The aussie jumped to near a 4-week high of 0.9098 against the loonie and near a 3-week high of 82.76 against the yen, up from its previous lows of 0.9073 and 82.46, respectively. Next key resistance for the aussie is possibly seen around 0.92 against the loonie and 84.00 against the yen.

The NZ currency appreciated to 5-day highs of 0.6664 against the greenback and 1.7148 against the euro, following its prior lows of 0.6641 and 1.7197, respectively. The kiwi is seen finding resistance around 0.68 against the greenback and 1.68 against the euro.

The kiwi climbed to near a 3-week high of 76.92 against the yen, from a low of 76.66 seen at 8:15 pm ET. If the kiwi rises further, 78.00 is likely seen as its next resistance level.

Looking ahead, U.S. wholesale inventories for December are scheduled for release in the New York session.

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