EUR/USD steady above 1.1700 despite France downgrade – BBH

EUR/USD is range-bound above 1.1700, BBH FX analysts report.

Fitch cuts France to ‘A+’, outlook stable

"France’s fiscal troubles are unlikely to knock EUR/USD off its upward path. Fitch Ratings downgraded France’s sovereign credit rating on Friday by one notch from 'AA-' to 'A+' with a stable outlook. According to Fitch, the downgrade was due to 'growing political division and polarization' increasing the likelihood of further delays to fiscal consolidation."

"Fortunately, France’s fiscal woes remain country-specific and not spreading to the rest of the Eurozone. French bond yield spreads vs. German bunds are widening but Italian, Spanish, and Portuguese bond spreads vs. Germany show no signs of stress."

Sep 15, 2025

AUD/USD: The next level to watch is 0.6700 – UOB Group

Australian Dollar (AUD) is expected to consolidate in a range between 0.6625 and 0.6665. In the longer run, the price action continues to suggest a higher AUD; the next level to watch is 0.6700, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.

NZD/USD might break above 0.599 – UOB Group

The current price movements are likely part of a consolidation phase between 0.5935 and 0.5965. In the longer run, New Zealand Dollar (NZD) could break above 0.5990; the scope for further advance may be limited, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.