{
  "id": 12059291,
  "title": "Dollar holds firm as French fiscal woes keep euro on back foot",
  "url": "https://urgent.news/2026/10/05/dollar-holds-firm-as-french-fiscal-woes-keep-euro-on-back-foot-12059291",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-10-05T02:59:44.000Z",
  "source": {
    "name": "Business Recorder",
    "slug": "business-recorder",
    "url": "https://www.brecorder.com/news/40442679/dollar-holds-firm-as-french-fiscal-woes-keep-euro-on-back-foot"
  },
  "original_language": "en",
  "account": "The dollar began the week on a strong note, approaching a 17-month peak on Monday. This occurred as traders considered the shrinking chances of a Federal Reserve interest rate increase this month following weaker-than-anticipated US job data. Meanwhile, fiscal issues in France left the euro exposed. The euro was trading at $1.1246, near its lowest level since May 2025 after recording four straight weekly losses. France's high debt levels and political uncertainty ahead of next year's election were contributing to the euro's decline. The British pound reached $1.3241, and the Japanese yen was valued at 157.69 per US dollar in early Asian trading. The dollar index, which gauges the US currency against six major currencies, stood at 101.97. The recent bond sell-off, which pushed global borrowing costs to multi-decade peaks and harmed French debt, still affected markets. US 10-year Treasury yields were at 5.262%, lower than the 24-year high they reached last week, which unsettled markets. Matthew Ryan, head of market strategy at Ebury, explained that the dollar's strength stems from the rise in Treasury yields increasing the attractiveness of US assets and the widespread sell-off in debt globally, which is driving safe-haven investments into the greenback. OCBC strategists forecast that if interest rate volatility stays high, carry trades, cyclical currencies, and the euro will continue to face pressure. The Swiss franc traded at 0.8286 per dollar, and the euro was at 0.9312 per dollar after rising over 1% last week. The Australian dollar remained steady at $0.6956, while the New Zealand dollar dipped 0.1% to $0.5610. Federal Reserve rate hikes were a significant factor in the dollar's strength over recent weeks, as traders anticipated Fed rate hikes in the months ahead. However, Friday's economic data showed that the labor market was not overheating despite inflation remaining above the Fed's 2% target since the pandemic, leading analysts to believe that the Fed would keep interest rates steady in October. They still anticipate a rate hike in December and two more before the end of 2027. Nevertheless, analysts believe the current market expectations are overly optimistic, and the Fed may not raise rates as frequently as anticipated.",
  "summary": "SINGAPORE: The dollar started the week on a firm footing , hovering near a 17-month high on Monday as traders weighed receding odds of a Federal Reserve rate hike this month after soft US jobs data while fiscal worries in France left the euro vulnerable. The euro was at $1.1246, stuck near its lowest level since May 2025 after clocking four consecutive weekly declines as France’s debt levels and…",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 4,
    "also_reported_by": [
      {
        "outlet": "Investing.com",
        "title": "Dollar holds firm as French fiscal woes keep euro on back foot",
        "url": "https://urgent.news/2026/10/05/dollar-holds-firm-as-french-fiscal-woes-keep-euro-on-back-foot",
        "published": "2026-10-05T02:00:34.000Z"
      },
      {
        "outlet": "Free Malaysia Today",
        "title": "Dollar holds firm as French fiscal woes keep euro on back foot",
        "url": "https://urgent.news/2026/10/05/dollar-holds-firm-as-french-fiscal-woes-keep-euro-on-back-foot-12056379",
        "published": "2026-10-05T02:19:00.000Z"
      },
      {
        "outlet": "The Jakarta Post",
        "title": "Euro slides as French fiscal worries grip markets",
        "url": "https://urgent.news/2026/10/05/euro-slides-as-french-fiscal-worries-grip-markets",
        "published": "2026-10-05T04:19:17.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}