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EU FX I Currencies Report: Euro rises on hopes of Italian budget compromise

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Mark Wilson | Getty Images The euro rose on Wednesday, buoyed by reports that Italy may be open to reviewing its draft budget for 2019, potentially easing a confrontation with the European Union. The European Commission is set to take the first step on Wednesday towards disciplining Italy over its draft fiscal plan. But a report that Italian Deputy Prime Minister Matteo Salvini may be open to reviewing the government's 2019 budget helped support Italian government bond markets and the euro on Wednesday. The newspaper La Stampa said Salvini was ready to reduce the planned spending on a citizen's income and the unwinding of a previous pension reform. At 03:27 p.m. EST, the euro traded up 0.15 percent at $1.1387. The single currency has risen in six out of the last seven sessions. "The potential for a further tussle between Rome and Brussels can have an impact on the overall Eurozone economic growth, which will keep the euro under pressure,&quo

EU FX I Currenies Report: Dollar rises as 2-year Treasury yield hits multiyear high I CNBC

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