Euro falls as oil moves off lows, set for fifth straight weekly drop

The euro currency was on track to experience its fifth consecutive weekly decline on Friday, according to wire reports. This downturn came after oil prices recovered from earlier lows, causing early gains for the euro to fade. However, recent selling pressure in the market eased as France's bond market showed signs of steadying.

The euro had hit a 17-month low of $1.1161 on Monday due to concerns over France's high public debt and the challenging political path to budget cuts. In contrast, the US economy and currency appeared robust. The dollar index, which gauges the greenback against a basket of currencies, rose by 0.18% to 102.30, with gains continuing on the week and track for a fourth consecutive weekly increase since May 2025.