The post New French PM Lecornu resigns – BFM TV appeared on BitcoinEthereumNews.com.

Citing unidentified government sources, BFM TV announced early Monday that French Prime Minister Sebastien Lecornu has resigned, per Reuters. French President Emmanuel Macron has reportedly accepted Lecornu’s resignation. Market reaction The Euro came under immediate selling pressure following this headline. At the time of press, EUR/USD was trading at 1.1665, losing nearly 0.7% on the day. Reflecting the broad-based Euro weakness, EUR/GBP was last seen trading at its weakest level since mid-September at 0.8675, down 0.4%. Euro FAQs The Euro is the currency for the 19 European Union countries that belong to the Eurozone. It is the second most heavily traded currency in the world behind the US Dollar. In 2022, it accounted for 31% of all foreign exchange transactions, with an average daily turnover of over $2.2 trillion a day. EUR/USD is the most heavily traded currency pair in the world, accounting for an estimated 30% off all transactions, followed by EUR/JPY (4%), EUR/GBP (3%) and EUR/AUD (2%). The European Central Bank (ECB) in Frankfurt, Germany, is the reserve bank for the Eurozone. The ECB sets interest rates and manages monetary policy. The ECB’s primary mandate is to maintain price stability, which means either controlling inflation or stimulating growth. Its primary tool is the raising or lowering of interest rates. Relatively high interest rates – or the expectation of higher rates – will usually benefit the Euro and vice versa. The ECB Governing Council makes monetary policy decisions at meetings held eight times a year. Decisions are made by heads of the Eurozone national banks and six permanent members, including the President of the ECB, Christine Lagarde. Eurozone inflation data, measured by the Harmonized Index of Consumer Prices (HICP), is an important econometric for the Euro. If inflation rises more than expected, especially if above the ECB’s 2% target,…

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Filed under: News - @ October 6, 2025 10:28 am