Forex News: Euro Falls As France's New PM Resigns

Euro Falls As France's New PM Resigns

(RTTNews) - The euro weakened against other major currencies in the European session on Monday, as France's newly appointed Prime Minister Sebastien Lecornu resigned just hours after unveiling his cabinet.

He had faced the daunting task of finding approval in a deeply divided parliament for an austerity budget for next year.

Meanwhile, investors shrugged off the results of a survey, which showed investor confidence in the Eurozone has experienced a marked improvement in October 2025.

In the European trading today, the euro fell to near 3-week lows of 0.8674 against the pound, 0.9313 against the Swiss franc and 1.7652 against the Australian dollar, from early highs of 0.8723, 0.9340 and 1.7772, respectively. If the euro extends its downtrend, it is likely to find support around 0.85 against the pound, 0.92 against the franc and 1.75 against the aussie.

Moving away from an early 33-year high of 176.26 against the yen, the euro edged down to 174.90. On the downside, 155.00 is seen as the next support level for the euro.

The euro slipped to a 2-week low of 2.0004 against the NZ dollar, from an early high of 2.0124. The next support level for the euro is seen around the 1.97 region.

Against the U.S. and the Canadian dollars, the euro dropped to near 2-week lows of 1.1652 and 1.6262 from early highs of 1.1731 and 1.6364, respectively. The euro may test support near 1.14 against the greenback and 1.60 against the loonie.

Looking ahead, U.S. Consumer Board's employment trends index for September is due to be released in the New York session.

For comments and feedback: contact editorial@rttnews.com

Copyright(c) 2025 RTTNews.com. All Rights Reserved

Market News provided by RTTNews