Euro Hits 17-Month Low as European Political Uncertainty Weighs

The US dollar is holding steady against most major currencies as political turmoil in Europe weighs heavily on the euro. The single currency fell to a 17-month low of $1.1160, driven down by uncertainty stemming from developments in France.

Meanwhile, the British pound managed to recover slightly, gaining about 0.3% ahead of the weekend. This offset some of the week’s losses, leaving sterling with a minor decline of less than 0.1%. The dollar also hit a session high against the Mexican peso, reaching slightly above MXN18.35 before the weekend.

Market attention today is expected to focus on the US ISM September services index, which is likely to attract more interest than the final PMI services and composite index releases. Investors appear to be cautious amid the ongoing political challenges in Europe, particularly in France.