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The euro traded slightly above $1.12, hovering near its weakest level since May 2025, as concerns over France’s fiscal position weighed on sentiment. France is set to submit its 2027 budget today, while Marine Le Pen is expected to outline plans to cut government spending by €25 billion a year. Political uncertainty is
European shares nudged higher, reaching one-week highs on Tuesday, driven by a 7.7% surge in Genmab after positive drug trial results. Euro zone bond yields retreated slightly after recent rallies.
The euro traded near a 17-month low against a strengthening dollar, pressured by political uncertainty and fiscal worries within the euro zone. The dollar's rally was further fueled by rising U.S. Treasury yields.