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Euro falls amid French financial worries
The euro price sharply declined to its lowest level in 17 months, due to financial concerns in France and the deterioration of the bond market, impacting expectations of interest rate hikes. The euro fell to 1.1161 dollars, affected by fears of political deadlock and France's rising debt, while other currencies such as the Swiss franc and the British pound also declined. Meanwhile, the dollar rose significantly, amid increasing demand as a safe-haven currency, supported by movements in the U.S. bond market, with expectations of U.S. interest rates remaining steady in October due to slowing job growth in the United States.
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