The euro faced persistent headwinds in European foreign exchange trading on the 8th, with EUR/USD trading softly as the year-to-date low remained in focus. As of 22:00, the pair stood at $1.1183, roughly flat from the 20:00 level of $1.1184. The euro extended its selling momentum driven by the sharp rise in French government bond yields, briefly dipping to $1.1172. French 10-year bond yields surged toward 5%, fueling euro selling. When yields subsequently pared gains back to the 4.87% range, the year-to-date low of $1.1161 set on the 5th emerged as downside support, prompting a modest recovery. Even so, the pair remained capped around $1.1199, with the rebound proving limited.
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