The euro was headed for a fifth straight weekly drop on Friday, with early gains fading as oil prices recovered from earlier lows, but recent selling pressure eased as France's beleaguered bond market steadied. The euro zone's currency hit a 17-month low of $1.1161 on Monday as investors worried about France's record public debt and the difficult political path to budget cuts, in contrast with a robust-looking US economy and currency. The dollar index, which measures the greenback against a basket of currencies, rose 0.18% to 102.30. The index was up about 0.3% on the week and on track for a fourth straight weekly gain, its longest run since May 2025. The euro was last down 0.15% at $1.1192, and off about 0.5% on the week as it was poised for its longest streak of weekly declines against the dollar since the start of 2025. Risk premiums on French and Italian government debt were on track for a weekly decline after jumping in late September, as investors looked for fresh developmen...
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