The euro has a France problem
EWU•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 about broader European market turbulence.
1. Euro hits 17-month low
The euro fell 0.7% on Monday to a 17-month low 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 widens
The widening gap between French and German bond yields raised concerns that turbulence could spread more broadly across European markets. Elsewhere, stocks were upbeat, with Europe set for a strong start.
