Euro retreats heading towards a weekly decline of 0.9%

Today, Friday, the euro is heading for a weekly loss, as it fell against sterling to near its lowest level in 22 months and is heading towards a weekly decline of 0.9%.

Overall, major currencies struggled to make progress against the slightly stronger dollar on Friday, and the British pound fell 0.08% to $1.2752. It is heading for weekly gains of 0.3%.

The dollar is receiving support from its gains against the euro and from the desire for a safe haven after France’s call for early elections sparked a state of political uncertainty in the country and in the euro zone bloc more broadly.

The single currency witnessed a turbulent week following French President Emmanuel Macron’s decision to call early elections in his country, which raised concerns among investors.