A currency trader passes by 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, Monday, April 29, 2024. – Asian shares were trading higher Monday amid optimism over the rally that ended the week on Wall Street, although eyes were on the Federal Reserve policy meeting set for later this week.
The recent string of strong earnings have boosted market sentiments, but what could be a risk factor is the declining Japanese yen, he added. In currency trading Monday, the U.S. dollar edged up to 159.17 Japanese yen from 158.30 yen. The euro cost $1.0716, up from $1.0699. On Wall Street, shares closed out a relatively solid week on Friday, with the S&P 500 rallying 1% to finish its first winning week in the last four.Recent data on U.S. inflation have analysts expecting the Federal Reserve to keep rates on hold. Its main interest rate has been sitting at the highest level since 2001.
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