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GP Q
@argosaki
CURRENCY WATCH:
Euro under the French bond cloud
5 October 2026
The euro dropped to about $1.116 on Monday, its weakest print since May 2025, after four straight weekly losses.
Reuters tied the slide to France’s debt load and political gridlock ahead of next year’s e******n, not to a planned currency overhaul.
French 10-year yields pushed toward 4.92% in early Monday trade, close to a 24-year high.
The gap over German bunds blew out to more than 150 basis points on Friday — the widest since the 2011 sovereign-debt crisis — before easing toward 140.
That is a risk premium, not a reset signal.
Investors are now testing whether Paris stays a local problem or starts dragging the rest of the eurozone.
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Spain’s snap-e******n call is sitting in the same week.
Debt costs, politics and the exchange rate are moving together.
That is a credibility story.
It is not a revaluation timetable.
Proof: Reuters, 5 Oct — https://reuters.com/world/asia-pacific/dollar-holds-firm-french-fiscal-woes-keep-euro-back-foot-2026-10-05/
Guardian, 5 Oct — https://theguardian.com/business/2026/oct/05/euro-falls-dollar-amid-french-debt-cac-40-spain-eurozone
Market stress is on the tape.
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A guaranteed currency reset is not.
Source(s):
• https://x.com/argosaki/status/2107311471671538037
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