French Bond Yields Hit 24-Year High, Euro Pressured to Near 1.11

English summary

France's 10-year government bond yield broke above 5% for the first time since 2002, with the France-Germany spread approaching 160 basis points. Driven by social unrest, Moody's rating review, and budget stalemates, markets are repricing French sovereign risk, causing EUR/USD to dip intraday to 1.1112 before recovering slightly to around 1.1234.