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Dollar index hits near 18-month high as French fiscal woes push euro to 17-month low
The dollar index climbed to its highest in nearly 18 months while the euro slid to a 17-month low as France's fiscal crisis rattled markets.
Why it matters
A strong dollar reshapes global trade and capital flows, raising import costs outside the US. The rally is being driven less by US strength than by fiscal stress in Europe, with France's budget crisis pushing investors toward the dollar.
Full report
The US dollar index rose about 0.6% in Asian trading on Monday to 102.53–102.54, its highest since April 10, 2025 — a near 18-month high. The euro fell to around 1.1161 against the dollar, its lowest since May 2025, extending a four-week losing streak. France's fiscal crisis is the main driver: the spread between French and German 10-year bonds widened 34 basis points last week to 140 basis points, the biggest single-week jump in 17 years, and French bond futures sank toward record lows. The US 10-year Treasury yield traded around 5.26%, after touching a 24-year high of 5.34% last week. CME FedWatch data show markets now see about an 80% chance the Fed holds rates in October, up from 36% a week ago, though a December hike remains heavily priced. (Sources: Dow Jones Newswires via TradingView; Reuters wire, October 5, 2026.) No forecasts or market predictions are included; these are reported figures.
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