Euro falls to 17-month low against dollar amid French debt fears

France’s Cac 40 index slides as announcement of snap election in Spain also helps fuel eurozone uncertainty

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The euro has slumped to the lowest level against the dollar in 17 months amid growing concern France’s debt position could threaten the stability of the wider single currency bloc.

The single currency fell as much as 0.8% against the dollar in early trading on Monday to below $1.12, its lowest level since May 2025, before recovering slightly. It has slumped by about 1.2% this month, accelerating a drop of about eight cents against the greenback from a peak of $1.20 in January.