Europe: The European euro fell to
a seven-week low against the dollar on Monday on a spat between Italy and the
European Union over Rome’s budget plans, while the yuan weakened as Beijing’s
move to spur more lending failed to ease concern about economic growth.
Nervous investors piled more
money into the dollar, as speculators’ bullish bets in the greenback grew to
their highest level since December 2016 last week.
The greenback’s gain was limited
by a third day of losses on Wall Street, which was stoked by anxiety about the
U.S.-China trade tension and rising U.S.
“What’s been weighing on broader
markets has been supporting the dollar: rising interest rates around the world
for both fundamental and worrisome reasons,” said Joe Manimbo, senior market
analyst at Western Union Business Solutions in Washington
On Monday, Italian 10-year bond
yield IT10YT=RR increased nearly 20 basis points to 3.60 percent, the highest
level in 4-1/2 years, while the country's stock market .FTMIB fell to its
weakest since April 2017.
Italian Deputy Prime Minister
Matteo Salvini, speaking at a media conference with French far-right leader
Marine Le Pen, denounced European Commission President Jean-Claude Juncker and
Economics Commissioner Pierre Moscovici as enemies of Europe.
The single currency fell 0.26
percent against the dollar EUR=EBS to $1.14900 and not far from a more-than one-year
low of $1.1355 hit in mid-August.
The euro fell 0.31 percent to 1.14015
Swiss franc EURCHF=EBS, and shed 0.92 percent EURJPY=EBS against 129.790 yen.
Source: Reuters
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