Euro Could Stay Weak on French Debt Worries for Some Time
Dow Jones
Oct 07
1356 GMT - The euro is unlikely to bounce back anytime soon due to concerns about France's public finances, Commerzbank's Antje Praefcke says in a note. "We've seen in recent days, amid concerns about France's national debt, just how quickly doubts about the credibility of governments can weigh on the euro."Presidential candidate Marine Le Pen has promised to get the budget deficit under control. However, fiscal consolidation in some eurozone countries is fundamentally difficult and politically unpopular, meaning the situation probably won't change fundamentally in the short to medium term, she says. The euro falls 0.7% to $1.1181 after hitting a 16-month of $1.1160 Monday, according to LSEG.
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