Dollar climbs as euro hits 17-month low
Financial markets experienced a sharp decline in the value of the euro, which fell to its lowest level since May 2025 amid concerns over France's financial situation and a deterioration in the bond market. This raised fears of the crisis spreading to the Eurozone. Meanwhile, the dollar rose noticeably as demand for the U.S. currency as a safe haven increased, despite weak American economic data that dampen expectations of an interest rate hike in the near future. France's debt crisis and declining confidence in its future fiscal policy led to higher global borrowing costs and poor performance of related currencies. Conversely, the dollar maintained its strength supported by rising U.S. Treasury yields.
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