The US dollar is set to close the week near a one-year high, driven by a weakening Japanese yen and ongoing political uncertainty in both Japan and France.
The yen fell more than 3% over the past week, hitting an eight-month low following the election of conservative Sanae Takaichi as the new leader of Japan’s Liberal Democratic Party. This development has fueled market concerns about economic stability in the region.
In Europe, the euro remains under pressure after French Prime Minister Sébastien Lecornu’s unexpected resignation. Investors are closely watching for the appointment of his successor, which is expected soon.
For crypto investors, the strengthening dollar could create downward pressure on major cryptocurrencies, particularly Bitcoin and Ethereum, as market participants often react to shifts in global fiat currencies. Monitoring key currency pairs like USD/JPY and EUR/USD can help anticipate potential impacts on digital assets.
