A sliding euro is the latest alarm bell for policymakers facing a surge in French borrowing costs that has started to spill over into the broader euro ​area.

The euro was weighed down by France’s fiscal woes and concerns about increased French government spending.

The dollar started the week on a firm footing, hovering near a 17-month high on Monday as ​traders weighed receding odds of a Federal Reserve rate hike this month after soft US jobs data while fiscal ‌worries in France left the euro vulnerable.

The dollar started the week on a firm footing, hovering near a 17-month high on Monday as traders weighed receding odds of a Federal Reserve rate hike this month after soft US jobs data while fiscal worries in France left the euro vulnerable.

Schneider Electric SE said it is acquiring US-based engineering software developer PTC Inc. for an implied enterprise value of $23.7 billion.

Schneider Electric is in advanced talks to buy US engineering software provider PTC for about $20bn in a deal that would be the French industrial conglomerate’s largest acquisition, according to people with knowledge of the matter.

Schneider Electric has agreed to purchase software company PTC in a deal valuing its equity at around US$22.6 billion. The all-cash acquisition marks the French energy and tech company's latest move to expand into the software and AI market.

France's Schneider ​Electric said ‌on Monday it has ​agreed ​to buy PTC ⁠in ​an all-cash ​deal for $205 per share, valuing ​PTC's ​equity at about $22.6 ‌billion.