Dollar Gains as Euro and Yen Falter Amid Political Shifts

The U.S. dollar rose on Thursday, maintaining its robust performance throughout the week, supported by a weakening euro and a struggling yen. This comes as France faces political upheaval while Japan undergoes a transition in leadership, both factors weighing heavily on their respective currencies.

In France, the euro has been pressured, dropping 0.2% to trade at $1.1609. This follows Prime Minister Sebastien Lecornu's resignation earlier in the week, an event that sent shockwaves through the market. Despite this, President Emmanuel Macron's quick plans to appoint a new prime minister caught markets by surprise.

Meanwhile, in Japan, the yen has struggled after conservative Sanae Takaichi assumed leadership of the ruling party, putting her in line to potentially become the country's first female prime minister. As a result, the yen dropped to levels not seen since February. These political dynamics have inadvertently bolstered the dollar, which hit a two-month high.

(With inputs from agencies.)