Euro hits 17-month low amid political and fiscal uncertainty in Spain and France
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The euro dropped 0.6% against the U.S. dollar on Monday to its weakest level since May 19, 2025, driven by rising inflation, interest rates, government borrowing costs, and political uncertainty in Spain and France. Barclays economists noted that France, targeting a public deficit reduction from 5.4% to 5% of GDP in its 2027 budget, is unlikely to meet its fiscal targets before next year's presidential election.
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