The euro is weaker against the pound and the dollar this morning, due to sterling and greenback strength.
President of the European Central Bank, Christine Lagarde, said in a speech yesterday that the ECB will be “extremely attentive” to the impact that exchange rate has on prices. She added that they “monitor very carefully, the FX movements, don’t target it”. She also called for bitcoin to be globally regulated to tackle its use by money-launderers.
In Italy, leader of the Italia Viva party, Matteo Renzi, has withdrawn his party from the country’s ruling coalition, leaving Prime Minister, Giuseppe Conte, without a parliamentary majority. This follows weeks of clashes over a variety of issues.
