Currency Trading Surge in France
On December 4, 2024, euro-yen options trading has seen a notable increase, particularly following France's recent no-confidence vote. The Depository Trust & Clearing Corporation reported that since the beginning of November, there have been only three trading days with volumes exceeding $3 billion, with two occurring in the past week.
South Africa's Economic Contraction
South Africa's economy is facing challenges as recent data reveals an unexpected contraction in GDP, primarily due to a significant decline in the agricultural sector. The latest figures suggest a reversal from the previous quarter's growth of 0.3%. Despite this downturn, the South African rand remained resilient, strengthening by 0.24% against the dollar, trading at R18.11.
Leadership Change in Japan
Yuichiro Tamaki, a key figure in Japan's minority government, will temporarily resign as the leader of his party amid allegations of marital infidelity. Motohisa Furukawa will assume leadership of the Democratic Party for the People for the next three months, with Tamaki expected to return on March 4, 2025, according to party officials.