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Safe-haven currencies rise amid France unrest
The Japanese yen and the US dollar benefited from the rise in safe-haven currencies amid turmoil in France and deteriorating fiscal prospects. The yen recorded its strongest daily gain in a month, rising by 0.51% to reach 157.33 yen per dollar, while the dollar index increased by 0.14% to 101.82 points. Conversely, other currencies such as the British pound declined by 0.18% and the Australian dollar by 0.21%. Bitcoin also fell by 3.20%. These movements come amid concerns over worsening conditions in France, escalating geopolitical risks, and growing worries about its debt burden. The spread between 10-year French and German bond yields widened to its highest level since 2011, reflecting a decline in investors’ risk appetite.
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