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Euro slides after Italian lawmaker talks up national currency
The euro fell to a six-week low on Tuesday after a senior official from Italy’s ruling party said most of the country’s problems would be resolved if it scrapped the euro for a national currency, triggering a broad market sell-off. The euro also slumped against the safe-haven yen and Swiss franc, while the dollar surged to a one-month high as investors piled into greenback and sold riskier assets such as equities. Markets are highly sensitive to Italian political developments after the ruling parties proposed a budget with a higher-than-expected deficit target, exacerbating tensions with other euro zone leaders ... (full story)
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