The euro continued its decline today on its way to record losses for the sixth week in a row as concerns over Italian debt weighed on the single currency. The euro settled at 1.1711, slightly higher than its six-month low against the US dollar.
The Swiss franc gained for the fourth week in a row against the euro as a clear risk aversion appear in markets, with the euro hitting its lowest against the franc since early March. Political risk in Italy could push the euro further down against the US dollar.
The US dollar lost some of its momentum over the past weeks following the publication of the minutes of the Fed's latest meeting, as it was more pessimistic than the markets had expected. The dollar index is currently trading at 93.77 levels. While the dollar is trading around its lowest level since May 15 at 109.50 against JPY.
