Euro hits 17-month low
The euro fell as much as 0.8% against the dollar to 1.1161 as political and fiscal risks increased across Europe.
The common currency dropped to its lowest level since May 2025, with concerns over France’s debt and political stability compounded by the possibility of an early election in Spain.
The risk premium between French and German 10-year government bonds widened to 152 basis points, its highest level since 2011, while the dollar continued to strengthen. JPMorgan strategists warned that the euro could face further selling pressure, particularly against the Swiss franc and Japanese yen.
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