Euro drops 0.50% versus strengthening dollar, France in focus
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FILE PHOTO: U.S. dollar and Euro notes are seen in this November 7, 2016 picture illustration. REUTERS/Dado Ruvic/File Photo
(Reuters) - The euro dropped versus a strengthening dollar on Monday, with investors concerned about political developments in France.
France's far-right National Rally (RN) party will likely back a no-confidence motion against the government in the coming days unless there is a "last minute miracle", RN president Jordan Bardella said on Monday.
The growing uncertainty over France's budget pushed the risk premium on the government's bonds to a more than 12-year high last week.
The euro fell 0.55% to $1.0515, while the U.S. dollar index rose 0.46% to 106.28.
(Reporting by Stefano Rebaudo, editing by Amanda Cooper)
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