Euro reaches 17-month low as France’s public finances draw scrutiny
France 24 reports the currency is nearly 7% below its late-January peak, amid concerns over France’s efforts to put its public finances in order.
The euro has fallen to a 17-month low against the US dollar, with concern about France’s public finances among the pressures on the currency, France 24 reported on 5 October.
France 24 said the euro was nearly 7% below its peak in late January. The report did not give the exchange rate or market data to quantify the latest move.
A Financial Times report summary also cited high energy prices as a possible pressure on the euro. The available information does not establish how much each factor contributed to the decline.
Global oil prices fell after the G7 agreed to release up to 100 million barrels from strategic reserves, France 24 reported. It also said Persian Gulf oil flows had returned to pre-war levels.
The report provided no further detail on the G7 decision or the oil-price movement.
