Euro hits 17-month low as French debt fears mount and Spain heads for snap election

AI Summary

The euro fell to its weakest level against the US dollar since May 2025 as concerns over French debt and political turmoil in Spain unsettled markets. Spain's snap election announcement has added to fears of eurozone financial contagion and pressure on bond markets.

The euro slid to its weakest level against the US dollar since May 2025 on Monday, as France's debt troubles and Spain's political turmoil, capped by a snap election call, fuelled fears of a fresh eurozone crisis and of contagion across the bloc's bond markets.