Euro heads for biggest weekly drop against dollar
The euro is on track for its steepest weekly decline in four months against the US dollar amid concerns over French fiscal policy and Federal Reserve monetary tightening. Investors are now awaiting the upcoming US employment report for further market direction.
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The EUR/USD is on track for a 1.35% weekly fall, its steepest decline in four months, weighed down by fiscal concerns in France and a hawkish shift by the United States central bank. The single currency traded down 0.05% to $1.1240 during Friday morning sessions. This weekly drop marks the currency's sharpest pullback since mid-May amid mounting political and budgetary pressures in Europe.
