Wednesday, February 28, 2024
HomeForex NewsEuro stuck near seven-week low on Italy budget woes

Euro stuck near seven-week low on Italy budget woes

By Tom Finn

LONDON (Reuters) – The euro languished near a seven-week low on Tuesday as concerns about a row in the European Union over Italy’s budget persisted.

The euro has tended not to budge in response to spikes in Italian bond yields triggered by developments in the dispute, with investors judging that Rome’s spending plans will not impact the monetary policy of the European Central Bank.

But the threat of a showdown along with weakness in stock markets worldwide has seen traders who had bet on a fourth quarter euro rebound ditch the single currency.

The euro (EUR=EBS) fell 0.2 percent to $1.1465, close to a seven-week low of $1.146 reached during the previous session.

Read more at :


Most Popular

Recent Comments