Asia’s markets rallied as the Bank of Japan’s historic rate hike to 1.00%—its highest level since 1995—combined with a US–Iran peace agreement that eased geopolitical tensions and sent oil prices to three-month lows. The Nikkei 225 surged above 70,000 for the first time, fueled by strong semiconductor demand, foreign inflows, and improving risk sentiment. Despite the BoJ’s tightening move, USD/JPY remained elevated near 160.31 as traders awaited the Federal Reserve’s policy decision and Chair Kevin Warsh’s first FOMC press conference. Commodities reflected the “peace dividend,” with oil, aluminium, and corn extending losses, while gold climbed toward $4,347. In crypto markets, Bitcoin held above $65,800 and Chainlink gained momentum, while Dogecoin continued to lag near yearly lows. Investors now look to the FOMC for guidance on rates, inflation, and the future direction of global risk assets.