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Why Italian Election Uncertainty Could Weigh on the Euro

Ricky Cove
Why Italian Election Uncertainty Could Weigh on the Euro

The euro-dollar (FXE) exchange rate closed the week ending February 23 at 1.23, depreciating by 0.91% against the US dollar (UUP). A mix of weak economic data and dovish European Central Bank minutes drove the euro lower against the US dollar. Last week, manufacturing and service sector activity was reported to have slowed across the Eurozone.