Euro heads for fifth weekly drop
The euro is heading toward its fifth consecutive weekly decline despite selling pressure easing as the French debt market stabilises. Meanwhile, the dollar dipped slightly as US yields headed for their largest weekly drop in three months.
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The EUR/USD fell 0.1% to $1.1226 heading toward its fifth straight weekly decline on Friday morning, though selling momentum slowed. The common currency previously touched a 17-month low of $1.1161 on Monday amid concerns over France debt. Bearish pressure eased as French debt markets stabilized and United States yields retreated from recent highs.
