May 23, 2018 / 7:11 AM / 9 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)

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