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Euro Hits 16-Month Low Against Pound Amid France Fiscal Crisis

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The euro hit its lowest point against the British pound in 16 months, driven by worries over France's worsening fiscal issues and new political risks in the region.

The common currency dipped as much as 0.4% to 84.49 pence, surpassing a low reached in July. Earlier in the week, the euro had also hit a 17-month low against the US dollar.

On Wednesday, the euro underperformed against most of its Group-of-10 peers, reflecting broader concerns about economic stability in Europe.

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