The euro fell against the dollar, dragged down by Italian budget concerns;
1)The euro fell against the dollar on Monday as the market once again worried about the Italian budget, while the Canadian dollar rose against the dollar after the US and Canada reached an agreement at the last minute to replace the North American Free Trade Agreement (NAFTA).
2)Italian Deputy Prime Minister Di Meyer accused EU officials of making negative comments on the Italian budget plan, deliberately disrupting the financial market; at the same time, the agreement reached between the United States and Canada kept the free trade zone of the three countries of the United States and Mexico intact; After nearly a quarter of a century, Shaun Osborne, chief currency strategist at Scotiabank, said that many markets are dominated by news and may still be the main concern of traders in the short term;
3)The increase in the budget will exacerbate the country’s already high debt level, and the euro is hit; the European Commission is reported to reject Italy’s plan to increase its budget deficit to gross domestic product (GDP) to 2.4% in 2019; The proposed deficit target is three times that of the previous government.