Euro sinks to 17-month low as French debt fears spread
The euro touched $1.1160 on Monday, its weakest since May 2025, as French borrowing costs hit their highest level since 2002
The Euro (EUR) slipped below 1.1200 amid a stronger US Dollar (USD) on Monday, despite a weaker US Industrial Production Services Purchasing Managers Index (PMI). The US Dollar benefited from higher US Treasury yields and continued economic resilience. In the Eurozone, mounting political and fiscal concerns, especially in France and Spain, weighed on the Euro.
The S&P Global Services PMI for September rose to 58.8, while the ISM Services PMI eased to 54.9, but remained above the 50 threshold for expansion. Technical analysis indicated continued bearish momentum for EUR/USD below key moving averages, with potential support around 1.1161.
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