Global Currency Shifts Amid Political Upheavals

Political developments in Japan and France are influencing currency markets, with the yen dropping to a two-month low following Sanae Takaichi's leadership victory. This event, along with changes in France's political landscape, has caused significant movements in yen and euro values against the dollar.

The currency markets are again being influenced by political changes, as the yen fell to a two-month low after Sanae Takaichi emerged victorious in Japan's leadership race.

Expectations that Japan's central bank will hold off on interest rate hikes have shifted, with Takaichi poised to become the next prime minister and promising economic stimulation through increased spending.

Meanwhile, the resignation of France's prime minister has kept the euro under pressure, raising the risk of fiscal instability and uncertainty in budget proceedings.

(With inputs from agencies.)