The dollar maintains its strength and the euro is affected by political uncertainty

The dollar stabilized on Monday at a time when the euro was hovering near its lowest level in more than a month after political unrest in Europe led to a state of uncertainty among traders, amid anticipation for more data to determine the strength of the American economy.
Investors are assessing the risk of budgetary turmoil in the euro zone as momentum grows around far-right and left-wing parties ahead of early parliamentary elections in France, putting pressure on the centrist administration of President Emmanuel Macron.
The euro settled at $1.0713 after falling to its lowest level since May 1 at $1.06678 on Friday. Last week also recorded its largest weekly decline since April by about 0.88 percent.
There was no change in the dollar index, which measures the performance of the US currency against six other currencies, after it reached 105.54 points, making it close to its highest levels since May 2, mainly driven by the weakness of the euro.
The British pound fell 0.1 percent to $1.2671. Inflation pressures in Britain still appear to be severe enough to prevent the Bank of England from cutting interest rates at its meeting scheduled for June 20.
Most economists polled by Reuters expected that the first cut in Britain would not occur before early August.
The yen remained near its lowest level in 34 years against the dollar after the Bank of Japan on Friday postponed detailing the reduction in bond purchases until its expected meeting in July.
The yen fell slightly to 157.765 after falling to 158.26 following Friday’s decision, its lowest level since April 29.
In terms of cryptocurrencies, data from the London Stock Exchange Group showed that Bitcoin fell by one percent to $65,794 and Ether fell by two percent to $3,524.