Economic news

Euro is down as political uncertainty in Italy emerges and U.S. bond yields grow

The euro remained close to the lowest levels of five months today as the statements by the Italy’s populist parties, together with a recent hike in returns on U.S. government bonds that galvanized demand for the U.S. currency troubled investors.

The euro’s position was at $1.1795, 0.1% slide during the day, a bit above the year’s low of $1.1763 registered yesterday.

In April the euro stayed at $1.24 and later kept falling as dollar gained fast, making investors assume that U.S. interest rates will require a lift to restrain inflation, whereas central banks of other countries will have to put off tightening.

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