The European Single Currency, euro, on Friday, May 11, depreciated by 0.1 percent to $1.1905 EUR= but was off its 2018 lows of $1.1823 hit on Wednesday.
The single currency had started 2018 on a run as investors bet on a stronger euro zone economy and tighter monetary policy, but is now down year-to-date against the dollar.
The euro has so far weathered the impact from rises in Italian bond yields on signs the two anti-establishment parties could sweep into power as they made “significant steps” toward forming a government after weeks of political stalemate.
However, Italy’s next prime minister could be an independent figure who is not a member of either the anti-establishment 5-Star movement or the far-right League and a government could be sworn in next week if all goes well, a top 5-Star member said in a newspaper interview published on Friday.
Currency trading was generally quiet on Friday after a busy week, with most major pairs holding within small ranges, Reuters reports.
