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Euro extends slide versus British pound on France debt worries

EUR/GBP was last around 0.8478, after an intraday low of 0.8458, as concern centers on France’s high debt and budget outlook.

Reported · Written up by our desk · Major Pairs

EUR/GBP extended its decline on Monday, sliding to its lowest level since mid-July, as political turmoil and renewed concerns about European public finances pressured the euro, according to FXStreet.

The pair was trading around 0.8478, down 0.24% on the day, after hitting an intraday low of 0.8458.

FXStreet pointed to France as the focus, citing high debt, a widening budget deficit, and doubts over the government’s ability to pass its 2027 budget, which has coincided with a sharp sell-off in government bonds.

The outlet also noted Spanish Prime Minister Pedro Sánchez called a snap election amid intensifying housing protests, while ECB Chief Economist Philip Lane said the rise in long-term rates will slow growth and reduce pass-through by more than projected.

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