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Gate.io: The instability of the French political situation is expected to continue to put pressure on the euro.
According to the latest data, due to the ongoing political uncertainty caused by the formation of a "suspended parliament" in the French parliamentary elections, the euro is facing the risk of decline. Francesco Pesole, an international analyst from the Netherlands, stated in a report, "It is increasingly evident that the coalition government negotiations in France will be a lengthy and complicated process." He said that breaking the deadlock may take several weeks, and the bond market may feel uneasy about this situation. While waiting for developments in the United States, the euro is currently trading around 1.08 against the US dollar. He stated that weak US inflation data on Thursday could push the EUR/USD higher to around 1.09, but selling interest may reappear as concerns about French politics and finances remain unresolved.