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5/18, 3:56 PM (Source: TeleTrader.com)
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Euro drops to six-month low versus dollar

Rising bond yields kept buoying the dollar on Friday, paired with favorable macroeconomic data. The world's reserve currency reached $1.17523 against the euro, the highest point since December 18, as investors expressed concern over the formation of a populist government in Italy, while the Eurozone has been showing signs of a slowdown in expansion and inflation is lagging.

The euro was down 0.33% at 3:52 pm CET, buying $1.17558. The joint currency declined 0.49% to 1.1754 Swiss francs, the lowest level since April 3. The exchange rate dropped 0.21% to ¥130.347. However, the currency strengthened 0.09% to £0.87342. The pound was under pressure as the market was absorbing controversial information about the United Kingdom's status in the customs union after Brexit, even though Prime Minister Theresa May said one day earlier that the country would leave the agreement.

Breaking the News / IT