[The euro fell to a 17-month low against the U.S. dollar] On October 5, affected by market concerns caused by France's financial situation and political uncertainty, the euro fell sharply on the 5th, once falling to 1 euro against $1.1161, the lowest level since May 2025. The euro had fallen for four consecutive weeks. The French government bond market has been under significant pressure recently. Data show that last week, the spread between the French 10-year government bond yield and the German government bond yield for the same period once exceeded 150 basis points, the first time since the end of 2011. The market is concerned that French debt levels and a possible political deadlock ahead of next year's French presidential election may increase fiscal risks in the euro zone. At the same time, safe-haven demand and high U.S. Treasury yields supported the dollar. On the 5th, the U.S. dollar index, which measures the exchange rate of the U.S. dollar against six major currencies, rose 0.47% to 102.37. However, weak U.S. employment data reduced market expectations for the Federal Reserve to raise interest rates in the near future, limiting the dollar's gains to a certain extent.