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Euro rises near 1.1200 as France debt worries cap upside

Traders are also waiting for the US weekly Initial Jobless Claims report and Fedspeak later on Thursday.

Reported · Written up by our desk · Major Pairs

EUR/USD recovered some losses to trade around 1.1200 in the early Asian session on Thursday, according to FXStreet.

Still, the report said the pair’s upside looked limited as continuing concerns about France’s fiscal situation weighed on the euro.

FXStreet noted that France’s government has outlined a €54 billion savings drive, but worries about the ability to rein in the budget deficit, along with Eurozone bond-market turmoil, have raised fears of a potential sovereign debt crisis.

The outlet added that traders are looking ahead to the release of the US weekly Initial Jobless Claims report and further comments from the Fed later Thursday, events that could influence near-term currency moves.

Latest closeEUR/USD 1.122 ▼0.3%

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