Driven by the deepening French fiscal crisis and the emergence of new political risks in Europe, the euro fell to its lowest level against the British pound since June last year. The euro once fell 0.4% against the pound to £0.8449 per euro, falling below the 2026 low hit in July. Earlier this week, EUR/USD had fallen to a 17-month low, and Wednesday's performance was inferior to most G-10 currencies. Commonwealth Bank of Australia foreign exchange strategist Samara Hammoud wrote in the research report, “European political concerns will continue to pose a downside risk to the euro.” Meanwhile, traders began cutting their bets on further ECB rate hikes. The swap market currently tends to bet that the ECB will increase interest rates three times by September 2027, 25 basis points each time, compared to four at the beginning of last week.
Zhitongcaijing · 1d ago
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Driven by the deepening French fiscal crisis and the emergence of new political risks in Europe, the euro fell to its lowest level against the British pound since June last year. The euro once fell 0.4% against the pound to £0.8449 per euro, falling below the 2026 low hit in July. Earlier this week, EUR/USD had fallen to a 17-month low, and Wednesday's performance was inferior to most G-10 currencies. Commonwealth Bank of Australia foreign exchange strategist Samara Hammoud wrote in the research report, “European political concerns will continue to pose a downside risk to the euro.” Meanwhile, traders began cutting their bets on further ECB rate hikes. The swap market currently tends to bet that the ECB will increase interest rates three times by September 2027, 25 basis points each time, compared to four at the beginning of last week.
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