Euro Could Stay Weak on Risk of ECB Repricing as French Yields Surge
Dow Jones
Yesterday
0821 GMT - The euro looks set to remain weak as the European Central Bank's tightening cycle is more vulnerable to being repriced than the Federal Reserve's amid surging French government bond yields on fiscal concerns, ING's Chris Turner says. "The ECB has a difficult job in terms of talking tough to keep a lid on inflation, while at the same time being expected to step in at some point should the French debt selloff get out of hand," he says in a note. The euro falls 0.4% to $1.1205 after earlier hitting a 16-year low of $1.1160 in Asian trade, according to LSEG. The euro also declines to an 11-week low of 0.8456 pounds.
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