Euro Hits a 17-Month Low: Why the French-German Yield Gap Is the Number That Matters

The euro just dropped below $1.12 for the first time since May 2025, and the dollar rose even as Fed hike odds collapsed. That only makes sense once you see what the bond market is saying about France. Here's how a 150-basis-point yield gap became a currency problem, and the level that decides whether it becomes a European one.