The euro has a France problem
FXE•The euro fell 0.7% to a 17-month low as fiscal concerns in France weighed on the currency. The gap between French and German bond yields widened, raising concerns that market turbulence could spread across Europe.
1. France weighs on euro
The euro fell 0.7% to a 17-month low on Monday as fiscal concerns in France weighed on the currency. French markets faced pressure from high debt levels and political gridlock ahead of next year’s presidential election.
2. Bond spread concerns
The widening gap between French and German bond yields raised concerns that turbulence could spread more broadly across European markets.
