© Reuters. The dollar pared back earlier gains.
Investing.com – The U.S. dollar pared back earlier gains, but still remained steady as the euro inched down amid concerns over Italy’s budget.
was down 0.18% to 1.1470 as of 11:06 AM ET (15:06 AM GMT), compared to an earlier low of 1.1434.
The euro remained pressured as Italy’s populist government and the European Commission went head-to-head over the country’s budget.
Brussels and Rome have been at odds over the country’s budget deficit plans for the next three years, which breach EC rules on running excessive deficits and high debt.
The political battle has caused Italian bond yields to rise amid fear that increased borrowing could overburden the country’s debt.
The greenback was down from earlier gains amid news that UN Ambassador Nikki Haley is resigning at the end of the year. The , which measures the greenback’s strength against a basket of six major currencies, inched up 0.14% to 95.57, but was below its session high of 95.83.
Meanwhile the pound was flat, with inching down 0.01% to 1.3088.
The dollar slid lower against the yen, with down 0.07% to 113.14.
The Australian dollar was lower, with falling 0.06% to 0.7074, while inched up 0.05% to 0.6448 and increased 0.06% to 1.2969.
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