The euro regained earlier losses on Monday but remained prone to volatility as early counts in Italian elections pointed to stronger-than-expected results for eurosceptic parties, with no major party blocs winning an outright majority.
The common currency found some support as Germany's Social Democrats decisively backed another coalition with Chancellor Angela Merkel's conservatives.
The euro traded at $1.2333, slightly above its late US levels, off its seven-week low of $1.21545, which it touched on Thursday.
Exit polls and early counts showed Italy's 5-Star Movement is likely to be the largest single party by a wide margin, a projection a prominent deputy from the party called a "triumph".
The centre-right bloc, made up of former prime minister Silvio Berlusconi's Forza Italia, and the far-right League and Brothers of Italy, is set to win most seats but is seen falling some way short of an absolute majority.
With full results not expected for a few hours or more, market reaction has been limited so far but investors are likely to take fright at any suggestion the 5-Star could form a coalition with the right-wing League.
Exit polls suggested the two forces would have enough seats to govern together and they have in the past shared strong anti-euro views. While the League still says it wants to leave the single currency at the earliest feasible moment, the 5-Star says the time for quitting the euro has passed.
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Read more:
Italians head to polls after bitter campaign
Party's rise puts Berlusconi's mansion back in spotlight
Italy’s 31- and 81-year old political rivals woo mainstream voters
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"On the whole, the results appeared to be in line with prior polls. The focus now is whether the League will become the biggest party in the centre-right bloc. In that case, there's a chance the bloc could fall apart," said Hideki Kishida, senior analyst at Nomura Securities.
The euro started the week on a solid footing as two-thirds of SPD members supported the coalition, clearing the way for a new government in Europe's largest economy after months of political uncertainty.
The US currency was also on slippery footing after President Donald Trump last week proposed tariffs on imported steel and aluminium, raising fears of retaliation from its trade partners that could trigger a trade war.
"I would think the market will soon digest European politics and shift focus back to the trade issues, in which case the dollar is likely to come under pressure," said Yukio Ishizuki, senior strategist at Daiwa Securities.
The dollar was softer against the yen at ¥105.43, near Friday's 16-month low of ¥105.24.
Bank of Japan Governor Haruhiko Kuroda said the BOJ would consider an exit from its ultra-easy monetary policy if it met its inflation target in the next fiscal year from April 2019.
Traders will be looking at confirmation hearing in the parliament by two nominees for BOJ Deputy Governors, Masazumi Wakatabe and Masayoshi Amamiya.
What are the GCSE grade equivalents?
- Grade 9 = above an A*
- Grade 8 = between grades A* and A
- Grade 7 = grade A
- Grade 6 = just above a grade B
- Grade 5 = between grades B and C
- Grade 4 = grade C
- Grade 3 = between grades D and E
- Grade 2 = between grades E and F
- Grade 1 = between grades F and G
AGUERO'S PREMIER LEAGUE RECORD
Apps: 186
Goals: 127
Assists: 31
Wins: 117
Losses: 33
PREMIER LEAGUE FIXTURES
All kick-off times UAE ( 4 GMT)
Saturday
Liverpool v Manchester United - 3.30pm
Burnley v West Ham United - 6pm
Crystal Palace v Chelsea - 6pm
Manchester City v Stoke City - 6pm
Swansea City v Huddersfield Town - 6pm
Tottenham Hotspur v Bournemouth - 6pm
Watford v Arsenal - 8.30pm
Sunday
Brighton and Hove Albion v Everton - 4.30pm
Southampton v Newcastle United - 7pm
Monday
Leicester City v West Bromwich Albion - 11pm
The Perfect Couple
Starring: Nicole Kidman, Liev Schreiber, Jack Reynor
Creator: Jenna Lamia
Rating: 3/5
Company%20Profile
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COMPANY%20PROFILE%20
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The finalists
Player of the Century, 2001-2020: Cristiano Ronaldo (Juventus), Lionel Messi (Barcelona), Mohamed Salah (Liverpool), Ronaldinho
Coach of the Century, 2001-2020: Pep Guardiola (Manchester City), Jose Mourinho (Tottenham Hotspur), Zinedine Zidane (Real Madrid), Sir Alex Ferguson
Club of the Century, 2001-2020: Al Ahly (Egypt), Bayern Munich (Germany), Barcelona (Spain), Real Madrid (Spain)
Player of the Year: Cristiano Ronaldo, Lionel Messi, Robert Lewandowski (Bayern Munich)
Club of the Year: Bayern Munich, Liverpool, Real Madrid
Coach of the Year: Gian Piero Gasperini (Atalanta), Hans-Dieter Flick (Bayern Munich), Jurgen Klopp (Liverpool)
Agent of the Century, 2001-2020: Giovanni Branchini, Jorge Mendes, Mino Raiola
Results
STAGE
1 . Filippo Ganna (Ineos) - 0:13:56
2. Stefan Bissegger (Education-Nippo) - 0:00:14
3. Mikkel Bjerg (UAE Team Emirates) - 0:00:21
4. Tadej Pogacar (UAE Team Emirates) - 0:00:24
5. Luis Leon Sanchez (Astana) - 0:00:30
GENERAL CLASSIFICATION
1. Tadej Pogacar (UAE Team Emirates) - 4:00:05
2. Joao Almeida (QuickStep) - 0:00:05
3. Mattia Cattaneo (QuickStep) - 0:00:18
4. Chris Harper (Jumbo-Visma) - 0:00:33
5. Adam Yates (Ineos) - 0:00:39
Israel Palestine on Swedish TV 1958-1989
Director: Goran Hugo Olsson
Rating: 5/5
The specs
Engine: 2.7-litre 4-cylinder Turbomax
Power: 310hp
Torque: 583Nm
Transmission: 8-speed automatic
Price: From Dh192,500
On sale: Now