The Euro softened against the US dollar after France’s new Prime Minister Sebastien Lecornu and his government resigned on Monday, hours after...
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Maroc - FINANCIALMIRROR.COM - A La Une - 07/Oct 09:41
Euro softens on fears of French political crisis
The Euro softened against the US dollar after France’s new Prime Minister Sebastien Lecornu and his government resigned on Monday, hours after announcing his cabinet line-up, with the EURUSD pair losing ground to around 1.1705 during Asian trading on Tuesday. The German August Factory Orders and French Trade Balance data are due later on Tuesday. Sebastien Lecornu resigned just weeks after his appointment, making it the shortest-lived administration in modern French history. This raises fear of a fresh political crisis in France and exerts some selling pressure on the Euro. Fitch downgraded France’s ratings last month, and Moody’s is widely anticipated
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