Business
CROSS-SPECTRUMBROAD COVERAGE
Euro extends slide as oil prices rise and French debt worries persist
The euro is on track for a fifth straight weekly decline after hitting a 17‑month trough of $1.1161 earlier in the week and later trading around $1.1211. Higher oil prices have contributed to the move. Concerns over France’s record public debt and the political challenges of fiscal tightening remain a focus. The U.S. dollar has gained modestly, supported by a strong U.S. economy and a statement from President Donald Trump that the United States would not attack Iran before the November midterm elections. U.S. Treasury yields fell, tempering the dollar’s advance.
How this was covered
- Right-leaning outlets covered this 6h later
Why it matters
The euro’s weakness influences currency markets and investors worldwide.
How this story developed
- Sep 4 Rising French borrowing costs spark fears of wider Eurozone debt risk
- Oct 1 The euro fell to its weakest level in 17 months, slipping below US$1.13 amid rising U.S. yields, higher oil prices and growing political uncertainty in Europe.
- Oct 8 The 10‑year yield climbed to just under 5% and the spread to German bonds topped 150 basis points.
- Oct 9 Bond market sell‑off intensifies as yields spike.
- Oct 9 The euro recovered slightly to about $1.1211 after earlier falling to a 17‑month low.
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