Economic news

Euro on course for sixth week of decline amid Italian political risks

The euro dipped on Friday and was on track for a sixth straight week of decline as worries over Italy’s debt forecast hit sentiment.

Photo: Reuters

The euro firmed at $1.1691, just above a 6-1/2 month trough of $1.1676 touched earlier this week as weak economic figures also affect optimism about the common currency’s outlook.

Among other major currencies the dollar rose 0.3 percent to 109.55 yen.

The greenback extended its losses versus the Swiss franc to touch 0.9886 franc overnight, its trough level since April, before climbing to 0.9923.

The 10-year U.S. Treasuries yield slumped to 2.955 percent on Thursday as bond prices jumped before it edged back to 2.992 percent in Asia on Friday. It is still near a seven-year peak of 3.128 percent scaled a week ago.

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