Euro hits fresh yearly low against British Pound as French fiscal concerns weigh - www.tmgm.com

EUR/GBP remains on the defensive on Monday, sliding to a fresh year-to-date low of 0.8445 as French political and fiscal concerns keep the Euro (EUR) under sustained pressure. At the time of writing, the cross trades around 0.8450, down 0.17% on the day. France aims to bring its budget deficit down to 5% of GDP in 2027, with parliamentary debate on the plans expected to begin this week. However, securing support for large spending cuts could prove difficult in a divided parliament. With public debt approaching 119% of GDP, markets fear that failure to pass the measures could deepen concerns about France’s finances.