The common currency continued to feel the heat of developments in Italy, with sources saying there is a chance for the new elections to take place on the 29th of July. In Canada, the nation’s central bank will decide on monetary policy. Expectations are for the Bank to stay on hold, so attention is likely to fall on the accompanying statement.
Euro Continues to Drift Lower, Dictated by Italian Politics
The euro continued trading south against most of the other G10 currencies on Tuesday. It gained only against the Nordics, SEK and NOK, while it underperformed the most against JPY, USD and CHF in that order.
The common currency continued to feel the heat of developments in Italy, which set the stage for fresh elections. Yesterday, sources close to some of the nation’s main parties said there is a chance that President Sergio Mattarella will dissolve parliament in the coming days and that the new elections may...
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