Markets > Currencies

U.S. dollar rises amid declining euro

2019-05-15 04:57

Already collect

NEW YORK, May 14 (Xinhua) -- U.S. dollar bounced back in late trading on Tuesday, as Italian Deputy Prime Minister Matteo Salvini said the country might break European Union fiscal rules on budget deficits to boost employment, raising concerns over Italy's debt level and the European economy.

The dollar index, which measures the greenback against six major peers, rose 0.22 percent at 97.5363 in late trading.

In late New York trading, the euro decreased to 1.1207 dollars from 1.1231 dollars in the previous session, and the British pound decreased to 1.2904 dollars from 1.2965 U.S. dollars in the previous session. The Australian dollar fell to 0.6944 dollar from 0.6950 dollar.

"If we need to break some limits, like the 3 percent or 130-140 percent, we're ready to go ahead," Salvini said, referring to the percentage of Italy's debt in its GDP.

"Until we arrive at 5 percent unemployment, we will spend everything that we should and if someone in Brussels complains, that won't be our concern," he said during a campaign ahead of this month's European parliamentary elections.

Salvini's coalition partner Luigi Di Maio said that it was "irresponsible" to hype the country's debt-to-GDP ratio.

"It's quite irresponsible to let the spread rise the way it is doing right now with comments on exceeding the debt-to-GDP limit, which is even more worrying than exceeding the deficit-to-GDP limit," Di Maio told reporters.

The U.S. dollar bought 109.63 Japanese yen, higher than 109.33 Japanese yen of the previous session. The U.S. dollar increased to 1.0094 Swiss francs from 1.0065 Swiss francs, and it was down to 1.3466 Canadian dollars from 1.3467 Canadian dollars.
Add comments

Latest comments

Latest News
News Most Viewed