Wall Street shares rose in a holiday-shortened session as the Black Friday shopping spree got under way and traders speculated whether Donald Trump may temper his trade tariff threats.
The yen rallied against the dollar as higher inflation in Japan fuelled expectations that the central bank will hike interest rates again.
Traders are closing out a rollercoaster month for assets caused largely by Trump winning a second US presidential election — and also a result of the wars in Ukraine and Gaza.
Markets are tracking developments surrounding Trump’s pledge to hammer China, Canada and Mexico with hefty tariffs on his first day in office in January.
US stock markets were up nearing midday deals following Thursday’s Thanksgiving break, with investors set to go home early on Friday.
The euro fell slightly against the dollar but the Paris and Frankfurt stock markets closed in the green. London finished with more modest gains.
“With many US investors still out after being off for Thanksgiving yesterday, the key theme that has emerged in the last few days is the easing of tariff fears,” said Fawad Razaqzada, market analyst at City Index and Forex.com.
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