Political unrest in France drags down the Euro against the Swiss Franc to a five-week low.

The Euro against the US dollar remained stable, but fell to a five-week low against the Swiss franc, after French Prime Minister Philippe was dismissed in a vote of no confidence. Philippe initiated the vote due to disagreements over budget deficit reduction plans, and it was widely expected that he would be defeated. "President Macron may appoint a new prime minister in the coming days, but this is unlikely to break the political deadlock," Vincent Stamer of Deutsche Bank stated in a report. He added that without sustainable fiscal consolidation, debt will rise rapidly.