Euro Slides as France's Fiscal Woes Weigh on Sentiment

The euro is on track for its fourth consecutive weekly decline against the US dollar, marking its largest drop in around four months. This decline comes as concerns over France's fiscal trajectory and the Federal Reserve's hawkish shift in mid-September weigh on sentiment.

After falling 0.77% on Thursday, the euro was stable on Friday due to a drop in oil prices following talks over diesel and crude stock releases. The single currency is currently down 0.05% to $1.1240 at 1127 GMT and is set for a 1.35% weekly fall, the biggest since mid-May.

The dollar often draws support from higher oil prices as investors cut exposure to currencies of major energy importers such as the euro and yen, which are seen as more vulnerable to a rise in crude costs. The dollar index is down 0.1% at 102.03 but is set for a 1.01% gain this week, its third consecutive rise.