Euro settles higher against dollar as eyes fixed on Italy's budget

Economies.com
2018-10-23 16:22PM UTC

Euro tilted higher against the dollar following earlier data from the euro zone and the US, while the European Commission asked the Italian government to reconsider the new Italian budget with its 2.4% deficit target. 

 

As of 04:13 GMT, EUR/USD rose 0.14% to 1.1480, with an intraday high at 1.1494, and a low at 1.1439. 

 

Earlier German data showed producer prices rose 0.5% in September, up from 0.3% in August, while accelerating to 3.2% y/y from 3.1%. 

 

An index tracking consumer sentiment in the euro zone steadied at minus 3 as expected, while Italian Prime Minister Giuseppe Conte dismissed the chances of using an alternative budget with lower deficit targets. 

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