A currency trader smiles near the screen showing the Korea Composite Stock Price Index , left, and the foreign exchange rate between U.S. dollar and South Korean won at the foreign exchange dealing room of the KEB Hana Bank headquarters in Seoul, South Korea, Friday, May 3, 2024. Germany's DAX gained 0.3% to 17,958.12 and the CAC 40 in Paris rose 0.5% to 7,950.67. In London, the FTSE 100 added 0.3% to 8,198.88.Markets in Tokyo and mainland China were closed for holidays.
The weaker yen has helped boost prices for imported goods, a factor behind the Bank of Japan's recent decision to give up its negative interest rate policy and raise its benchmark rate to zero to 0.1% from a longstanding level of minus 0.1%. It might raise rates further, Marcel Thieliant of Capital Economics said in a commentary, even if its target of 2% isn't met.
The dollar was trading at 153.26 early Friday, down from 153.65 late Thursday. The euro rose to $1.0743 from $1.0727.
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