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Fix the driver behind crashes, sound loss and screen glitchesFind Drivers →Clear out junk files and repair common Windows errorsFree Scan →The euro fell below $1.13 on October 1, 2026, as markets weighed energy-related inflation and growth risks for Europe, concern about France’s finances and political outlook, and support for the dollar from elevated US Treasury yields. These were concurrent pressures, not a single proven cause. The figures below are historical snapshots from October 1, not live prices or yields for October 7.
What happened to the euro on October 1?
Reuters reported that the euro fell below $1.13 against the dollar for the first time since May 2025 and touched a 17-month low. It was last down 0.35% at $1.1291 in the report, after declining nearly 2.5% in September—its largest monthly fall since July 2025. These are figures reported on October 1, 2026, not current quotes or an independently verified statistical series. Reuters
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How did energy costs weigh on the euro?
Higher oil and energy costs can pose a difficult trade-off for an energy-importing region such as Europe: they can add to inflation while raising household expenses and business costs, squeezing purchasing power and threatening growth. Reuters described those growth concerns as a pressure on the euro even as interest-rate hikes were expected. Rabobank head of FX strategy Jane Foley put it this way: “This growth risk has been hanging over the euro,” Reuters
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The oil headline needs a time-window qualification. The Economic Times’ October 1 summary of Reuters said oil prices fell that Thursday after recovering Gulf crude exports and a larger-than-expected increase in US inventories eased immediate supply concerns. That same-day decline does not rule out higher energy costs over a broader period; it does mean the report does not establish that oil rose on every relevant market interval. The Economic Times
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Why did US Treasury yields matter?
Reuters also pointed to elevated US Treasury yields as support for the dollar. When US yields appear more attractive relative to those available elsewhere, they can help underpin demand for dollar assets and weigh on the euro-dollar exchange rate. That is a separate channel from Europe’s energy and growth concerns; the reports do not quantify how much either factor contributed to the euro’s move.
Ray Attrill, head of FX strategy at National Australia Bank, said: “The US dollar seems to be showing more sensitivity, just at the moment, to what’s happening with say, 10-year Treasuries, than it is on pricing for when the next Fed rate hike might come,” Reuters
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What did rising French yields signal?
French borrowing costs were under pressure amid concern about the country’s fiscal outlook and political uncertainty. Reuters reported French debt yields at another 14-year high. The Economic Times’ October 1 summary of Reuters put the French-German 10-year yield spread at 127.51 basis points, after it had widened to 128.80 basis points earlier in the session—the highest since June 2012. Reuters The Economic Times
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The spread measures the extra yield investors demand to hold French 10-year debt rather than German 10-year debt. A wider spread can reflect France-specific fiscal or political risk as well as broader changes in rates and inflation expectations. The reported figures are market snapshots, not evidence by themselves that France was in a debt crisis.
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- Energy, inflation and growth: Higher energy costs can add inflation pressure while threatening growth in an energy-importing region; reports cited that concern as a drag on the euro.
- Relative yields and the dollar: Elevated US Treasury yields were reported as dollar-supportive, adding pressure to the euro-dollar rate.
- French fiscal and political risk: France’s outlook weighed on its bonds, with the French-German yield spread offering a market measure of the additional premium investors sought.
The reports identify these influences as concurrent; they do not establish a precise contribution for each to the currency move. The October 1 figures should not be read as October 7 market levels.
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