Currency Turbulence: Yen Hits Lows, Euro Wavers on Political Unrest
The Japanese yen hit its weakest against the dollar since mid-February, driven by concerns over Japan's fiscal policy. The euro fell amidst French political uncertainty. U.S. dollar strengthened due to lack of economic data from the federal government shutdown. Takaichi’s election victory has also impacted yen expectations.
The Japanese yen plummeted to its lowest level against the dollar since February due to uncertainties in Japan's fiscal policies and political developments in France, affecting the euro.
Sanae Takaichi's surprising win in the Liberal Democratic Party elections has fueled expectations of expansive fiscal policy reminiscent of former PM Abe's Abenomics. Takaichi's possible premiership faces criticism from traditional partners, complicating her policy agenda.
As the U.S. dollar gains from static domestic economic data, speculations mount around the Federal Reserve's anticipated rate cuts in upcoming meetings.
(With inputs from agencies.)
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