Euro/Swiss franc at two-month lows as Italy concerns weigh 4:07am EDT [Reuters]
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Source: Reuters
Euro/Swiss franc at two-month lows as Italy concerns weigh | Reuters 3 Min Read LONDON (Reuters) - The Swiss franc and the Japanese yen rose against the dollar on Wednesday as a wave of caution swept currency markets a day after U.S. President Donald Trump tempered optimism over progress made in trade talks with China. Carry trades, where investors borrow in relatively low yielding currencies to invest in higher-yielding ones, came under pressure with the euro/swiss franc cross being singled out for special punishment. While the dollar against a basket of its rivals rose 0.2 percent to 93.76, it weakened 0.6 percent and 0.3 percent against the Japanese yen and Swiss franc respectively. Stocks tumbled and the yen gained broadly after Trump said on Tuesday he was not pleased with recent trade talks between the United States and China, the world’s two biggest economies. The euro was also pressured lower by concern over political risk in Italy. The single currency fell to a six-month low
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