XE Market Analysis: Europe – Oct 03, 2018

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The Euro lifted across-the-board on a report in Italy’s Corriere della Sera says that the government is now planning to cut the budget deficit to 2% of GDP in 2021, following deficits of 2.4% in 2019 and 2.2% in 2020, which sparked a bounce in the euro. The Italian government had previously been planning a 2.4% deficit through to 2021. EUR-USD gained nearly 0.5% in making an intraday high at 1.1592, extending the rebound from yesterday’s six-week low at 1.1505. EUR-JPY, EUR-CHF and other Euro crosses have also gained.