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Euro Crawls Off Six-and-a-Half-Month Lows, Italian Political Woes Limit Bounce


Monday, 28 May 2018 08:19 WIB

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The euro crawled off a 6-1/2-month low against the dollar on Monday, catching its breath after last week’s steep decline, although broader concerns about political turmoil in Italy limited the currency’s recovery.

The euro was 0.35 percent higher at $1.1693 after falling on Friday to $1.1646, its lowest since mid-November, losing more than 1 percent on the week.

“The euro has managed to bounce, going through a bit of a consolidation. But fundamentally, it is still a ‘sell’ for the currency,” said Junichi Ishikawa, senior FX strategist at IG Securities in Tokyo.

Source : Reuters


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