Euro Set for Fifth Straight Weekly Loss

The euro was headed for a fifth consecutive weekly decline, after touching a 17-month low, as France’s high public debt and political obstacles to budget cuts weighed on investor confidence. The dollar remained firm, supported by perceptions of a resilient U.S. economy, while easing pressure in French and Italian bond markets helped limit further euro losses. Oil prices and bond markets fluctuated after President Donald Trump said the United States would not attack Iran before the November midterm elections and cited productive talks with Tehran. Investors were also watching Federal Reserve commentary for clues about the dollar’s next move; analysts cited France’s fiscal outlook as a persistent risk for the common currency.