Euro Under Pressure as Eurozone Woes Make a Comeback
Dow Jones
Yesterday
0523 GMT - The euro comes under pressure in Asia as eurozone political woes amplify the greenback's might, Maybank analysts say. Concerns over French sovereign bonds erupted last week after the country's public debt reached 119% of GDP and was projected to head toward 122%, the analysts write. Most worrying are plans to borrow a record sum in 2027 to help finance spending and repay debt, they add. There are signs of contagion as the yields of other debt-laden peripheral eurozone economies, like Greece and Italy, are surging. Markets have pared expectations for rate increases by the European Central Bank, but still expect one hike this year. The euro is down 0.6% to 1.1184 dollars after touching 1.1161 earlier, the lowest intraday level since May 2025, LSEG data show.
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