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Euro slips with Asian stocks while bonds rise as Italy votes no

Currencies

Euro slips with Asian stocks while bonds rise as Italy votes no

Bloomberg Published on Mon, Dec 05, 2016 / 8:39 AM GMT+8

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WELLINGTON (Dec 5): The euro retreated with riskier assets, while bonds advanced, amid concern the failure of Italy’s referendum on constitutional reform will destabilize the country, emboldening anti-Europe and nationalist forces.

The common currency touched its weakest point in 20 months as Prime Minister Matteo Renzi conceded defeat and said he’ll quit as results showed his bid to overhaul legislative decision-making in Italy had been voted down. Stocks from Tokyo to Sydney declined as the surprise resignation of New Zealand’s premier exacerbated pressure on the local currency. Government debt tracked a rebound in Treasuries from Friday, when mixed US jobs data weighed on the dollar and stocks. Oil retreated from near its best price in 16 months.