India, Oct. 5 -- The euro weakened against other major currencies in the Asian session on Monday, as worries over France's mounting debt and political block are burdening the EUR currency, ahead of the election next year.
With the benchmark 10-year government bond yield increasing above 4.9% and nearing its highest level in decades, French borrowing costs have increased in parallel with global yields.
Additionally, it is anticipated that France's debt-to-GDP ratio will increase from 119% this year to 122% next year. Furthermore, despite the already generous pension system consuming an ever-larger portion of the budget, far-right leader Marine Le Pen, who is leading in the presidential polls, has called for tax cuts and promised to lower F...