The euro was a few pips below 0.8400 pounds at Monday’s European open after a Friday low of 0.8361, with FXStreet attributing the recovery to improved sentiment, lower oil prices and France’s unchanged rating.
Separately, the European Central Bank’s reference rate on Oct. 23 was 0.83728 pounds per euro, a daily fixing distinct from intraday trading.
FXStreet also reported that French sovereign yields fell at the start of the week, without giving a benchmark maturity or yield level. The outlet’s explanation tied the currency move to market sentiment and lower oil prices; it did not establish a measured link between those factors and the exchange rate.
Reuters reported Brent crude futures at $115.79 a barrel at 7:15 p.m. ET Sunday (23:15 GMT). Reuters described oil as retreating from near six-month highs after prices rose the previous week amid supply concerns linked to Houthi attacks in Saudi Arabia.
France’s Finance Ministry said Oct. 23 that Moody’s had kept the country’s sovereign rating unchanged and maintained a negative outlook.
The ECB’s Governing Council is scheduled to meet Oct. 28-29, with a press conference on Oct. 29.
