Euro sinks to lowest since May 2025 amid worries over French debt
The euro weakened against the dollar on Monday as worries over France's debt grew and Spain's snap election call added to eurozone uncertainty.
AI illustrationThe euro dropped on Monday to its lowest level against the dollar since May 2025, a 17-month low for the single currency. Worries about France's debt were growing, and the call for a snap election in Spain added to uncertainty across the eurozone.
In early trading the euro reportedly lost as much as 0.8% and sank below $1.12, then recovered slightly. According to reports, it has shed about 1.2% so far this month, quickening a slide of about eight cents against the dollar since it peaked at $1.20 in January. France's Cac 40 index was reported to have fallen as well.
The concern is reportedly that France's debt could put the stability of the whole currency bloc at risk. Political upheaval in Spain, on top of the French debt problems, has reportedly stoked fears that the eurozone could face a new crisis and that stress could spread through the bloc's bond markets.
Corrections
- This story gives the name of the French stock index as Cac 40; the correct name is CAC 40.