The euro dropped on mounting uncertainty about Italy’s fiscal position, and the dollar pushed higher as emerging-market currencies slid. Stocks in Asia were mixed.
The common currency weakened after the head of Italy’s lower house budget committee said the nation would have solved its fiscal problems with its own currency. European futures declined alongside their U.S. counterparts. Japan’s Nikkei 225 Stock Average ticked higher a day after closing at its highest since 1991. Stocks in Hong Kong underperformed as traders returned from a long weekend, and equities also fell in Australia and South Korea. China’s markets are shut.
Global investor sentiment remains fragile, even after a deal between the U.S. and Canada to revamp the Nafta bloc with Mexico. Bank of America Merrill Lynch analysts joined JPMorgan Chase & Co. in downgrading forecasts for the Chinese yuan and other Asian currencies in recent days.
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