Dollar Strengthens as Euro Weakens on French Fiscal Concerns

The US dollar opened the week with notable strength, nearing a 17-month peak on Monday. This came as traders reassessed the likelihood of a Federal Reserve interest rate hike in October following weaker-than-expected US jobs data. Meanwhile, mounting fiscal concerns in France put pressure on the euro, contributing to its vulnerability.

The euro fell to $1.1246, lingering near its lowest point since May 2025. The currency has now declined for four consecutive weeks, a trend largely driven by France's rising debt levels and fears of political instability ahead of next year's elections.