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EUR/USD under pressure with France in the spotlight this morning
The rebound in the dollar so far today has seen the EUR/USD fall back towards the 1.05 handle. The Euro had benefitted to a degree on Friday, from what was clear Dollar month-end outflow. However, despite that it was still unable to vault the 1.06 handle. The EUR/USD closed on Friday at 1.0577. It has fallen to 1.0507 just now this morning. The recovery in the USD/JPY once again seems to have initially led that fall earlier. However, the Euro has also suffered some pressure from the political problems still impacting the French government. There is the prospect of a no confidence vote this week and that has perhaps weighed on it even more right now. It has also weighed on the CAC 40 futures, but more on that index in a minute. The EUR/USD is just now trading at 1.0520
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