May 23, 2018 / 7:11 AM / 5 months ago

Euro/Swiss franc at 2-month lows as Italy concerns weigh

LONDON, May 23 (Reuters) - The euro took another leg down against the Swiss franc on Wednesday, hitting a two-month low as political concerns in Italy weighed on sentiment.

The euro/Swiss franc fell 0.3 percent to 1.1616 francs per euro, its lowest level since March. 23.

The currency pair, a proxy for risk appetite within Europe, has fallen nearly 3 percent since May. 14 as concerns of a fiscally profligate new coalition government in Rome has raised concerns of a showdown with the European Union.

The likelihood of a government comprised of the anti-establishment 5-Star Movement and the far-right League has pushed Italian 10-year yields up nearly 60 basis points since the start of May. The bulk of that move has been over the past week. (Reporting by Saikat Chatterjee; Editing by Dhara Ranasinghe)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below