The euro is poised for a weekly decline against both the US dollar and the Japanese yen, driven by renewed selling pressure on French government bonds. Investors have reacted to concerns over France’s fiscal position, prompting a shift toward safer assets.

Despite this, the US dollar faced some weakness over the week amid a technology sector-led selloff in equity markets. This trend indicated that the dollar did not maintain its typical status as a safe-haven currency during the recent market volatility. Meanwhile, the benchmark 10-year US Treasury note yield rose by 3.5 basis points, reaching 4.99 percent on Friday.

The Japanese yen strengthened notably as investors sought refuge from fragile equity markets and expressed caution regarding France’s fiscal outlook. The currency’s gain reflected heightened risk aversion amidst uncertainty spreading through European bond markets.

Overall, the trends highlight the influence of both regional concerns in Europe and broader market dynamics on currency movements, with the euro under pressure from developments in France and the yen benefiting from its safe-haven appeal.