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Euro, sterling try to steady as traders keep wary eye on Italy budget, Brexit


Monday, 22 October 2018 14:08 WIB

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The euro and the British pound managed to hold steady against the dollar on Monday as investors cautiously awaited developments around Brexit as well as Italy's budget plan which drew heavy criticism from the European Union.

The dollar was also broadly unchanged against its major rivals. Tensions with Saudi Arabia and the West, trade frictions and uncertainly about the global growth outlook kept most currency pairs stuck in tight ranges.

An index measuring the greenback's value against its major peers was flat at 95.67, having hit a of high of 96.09 on Friday.

Both the euro and sterling remained sensitive to news around Brexit and a controversial Italian budget proposal.

Reuters


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