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EUR/USD steadies after sliding to May 2025 lows

Brown Brothers Harriman said widening France-Germany yield spreads are pointing to rising French fiscal concerns, even as it sees periphery stress as limited for the Euro.

Reported · Written up by our desk · Major Pairs

FXStreet reports that Brown Brothers Harriman’s Elias Haddad said EUR/USD has stabilized after falling to its lowest level since May 2025.

The commentary links the move to widening France-Germany yield spreads, which are seen as reflecting growing concerns about France’s fiscal outlook.

Brown Brothers Harriman expects France’s 2027 budget to largely roll over from 2026, a setup that could push the deficit higher, while noting the risks are largely country-specific and periphery spreads remain contained, limiting systemic drag on the Euro.

Latest closeEUR/USD 1.137 ▼0.1%

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