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Euro slides to 17-month low versus dollar on French debt fears

The euro fell as much as 0.8% early Monday to below $1.12, and is down about 1.2% so far this month.

Reported · Written up by our desk · Major Pairs

The euro slid to its lowest level against the US dollar in 17 months, dipping below $1.12 before recovering slightly, according to The Guardian Economics.

The outlet reported the euro fell as much as 0.8% early Monday, after already declining about 1.2% this month, accelerating a drop of roughly eight cents from a peak of $1.20 in January.

Investors attributed the move to concerns about France’s rising debt costs as the government tries to manage stretched public finances ahead of next year’s presidential election.

The Guardian Economics also linked the broader uncertainty to Spain’s announcement of a snap election, saying France’s Cac 40 index slid as eurozone worries increased.

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