Doha:The US dollar maintained its position near a 17-month high as investors considered the implications of reduced expectations for a Federal Reserve rate hike and rising fiscal concerns in France, which have driven the euro to its lowest level in 17 months.
According to Qatar News Agency, the euro experienced a significant drop to $1.1161 during Asian trading, marking its weakest point since May 2025. This decline was attributed to a sell-off in French government bonds and growing concerns about France's debt and political situation, sparking fears of potential financial stress throughout the euro zone.
Despite recent US jobs data falling short of expectations and diminishing the likelihood of imminent Fed tightening, the dollar has remained strong. This resilience is supported by high US Treasury yields and the dollar's appeal as a safe-haven asset.
In other currency movements, the Swiss franc was valued at 0.8286 per dollar and 0.9312 per euro, showing a gain of more than 1% over the past week. Meanwhile, the Australian dollar remained steady at $0.6956, and the New Zealand dollar experienced a slight decline of 0.1% to $0.5610.