Economic news

Euro leaps after Italy's coalition fails

The euro leaped on Monday and was poised for its largest one-day increase versus the Swiss franc after Italy’s anti-establishment parties failed to form a coalition.

Photo: Reuters

The single currency soared 0.6 percent to $1.1728. It also firmed by 0.8 percent versus the Swiss franc, recovering from almost three-month lows, and was staying at 1.1629.

The dollar index retreated from a six-month high of 94.30 touched against a basket of major currencies on Friday. It slipped 0.2 percent to 94.03.

The greenback was unchanged versus the Japanese yen at 109.42 yen.

The Aussie rose 0.25 percent to $0.7569 after sliding 0.4 percent in the previous session.

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