The euro hovered around a two-week low versus the dollar as the U.S. currency he...
LONDON - The euro hovered around a two-week low versus the dollar as the U.S. currency held strong on Tuesday, boosted by slightly higher Treasury yields, while political uncertainties in Italy also kept the common currency subdued.
Yields fell last week to cause an inversion of the short-dated and long-dated yield curve, sending alarms through financial markets given that several recessions in the past have been preceded by yield curve inversions. The curve of the two-year and 10-year Treasury yields was slightly steeper on Tuesday US2US10=RR.
Prime Minister Giuseppe Conte is set to address parliament on Tuesday afternoon to defend his record. He might hand in his resignation immediately afterwards or could instead wait for a formal vote to make it clear he is being unseated by the far-right League. A vote has not yet been scheduled and there is widespread uncertainty over how the political turmoil will end
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