Euro set for fifth weekly decline
The euro is facing strong pressures as it heads toward its fifth consecutive weekly loss, due to the French debt crisis and declining U.S. bond yields, despite a slowdown in the selling momentum. The European currency had fallen to its lowest level in 17 months at 1.1161 dollars amid fears over France’s rising debt and difficulties in reducing the fiscal deficit, but it slightly recovered to 1.1226 dollars. It also declined against the British pound and remained steady against the Swiss franc, amid declining French bond yields and widespread social protests in France, which increase financial tensions and impact the euro's performance in global markets.
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