Global shares steadied on Friday with investor focus staying on currency markets, after the yen briefly jumped against the dollar for a second straight day.
The dollar lost as much as 1% against the yen in a matter of minutes on Friday before moderating, a day after Tokyo authorities were believed to have intervened to prop up the currency. It was last down 0.1% on the day at 156.74.
Comments from Japan’s top foreign exchange diplomat, Atsushi Mimura, and the yen’s jump sparked speculation among currency traders of another round of intervention by Japan.
US stock indexes rose, while most major European markets were closed for holidays. The FTSE 100 was flat, while the S&P 500 rose 0.7% and the Nasdaq rose 1.1%.
Market watchers are digesting this week’s upbeat earnings at major tech companies that drove Wall Street to record highs on Thursday.
Global shares clocked their biggest monthly rise since 2020 in April, buoyed by earnings optimism, even as oil flows remain disrupted through the vital Strait of Hormuz. Brent crude was off 2% to $108.70 a barrel.Latest News, Breaking News & Top News Stories | The Express TribunereutersRead More