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

The euro currency experienced a fifth consecutive weekly decline on Friday, with gains diminishing as oil prices rebounded from earlier lows. However, recent selling pressure subsided as France's struggling bond market stabilized. The euro's value plummeted to a 17-month low of $1.1161 on Monday, reflecting investor concerns over France's high public debt and the challenging political landscape for budget cuts.

In contrast, the U.S. economy and dollar appeared robust. The dollar index rose 0.18% to 102.30, marking a week-long gain and tracking for a fourth consecutive weekly increase since May 2025. The euro slipped by 0.15% to $1.1192, and was down 0.5% on the week, poised for its longest streak of weekly declines against the dollar since the beginning of 2025.