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Euro slips versus yen as France fiscal risks drive pressure

EUR was down 0.35% versus the Japanese yen around 177.00, as French bond yields rose to the highest level since 2002.

Reported · Written up by our desk · Major Pairs

The euro was trading lower against major currency peers amid mounting fiscal worries in France, FXStreet reported.

In European trading, the EUR was down 0.35% versus the Japanese yen to around 177.00, with the euro also weaker against the Swiss franc, according to FXStreet.

FXStreet attributed the euro’s pressure to a rally in French bond yields, which it said rose to the highest level since 2002 at 4.96%.

The outlet also pointed to figures cited by Associated Press, including France public debt at 119% of GDP and a plan to cut the budget deficit from 5% of economic output next year to the EU limit of 3% by 2029.

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