Economic news

Euro weakens before revision of Italy's draft budget

The euro sank to a two-month trough on Tuesday ahead of a decision by the European Commission on Italy’s budget plan that could see a first time ever revision request of an EU member state.

Photo: Reuters

The single currency slid 0.2 percent to $1.4390, heading to a two-month nadir of $1.4325 touched on Oct. 9.

The dollar index .DXY inched up 0.1 percent to a two-month peak of 96.158.

Concerns over anti-establishment government's 2019 draft budget has raised some doubts about the European Central Bank's intention to increase interest rates next summer.

A row between Brussels and Italy's euroskeptic coalition government as well as doubts about the leadership of Britain’s prime minister, means traders are preparing for further political uncertainty on continent.


To leave a comment you must or Join us


More news


Back to economic news list

By visiting our website and services, you agree to the conditions of use of cookies. Learn more
I agree