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Italian Deputy PM Salvini criticises euro but says Italy has no plans to leave the single currency

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Italian deputy prime minister Matteo Salvini on Monday criticised the euro but said Italy had no plans to leave the single currency.

“Leaving the euro is not in the programme of this government,” Salvini, who is also interior minister and leader of the right-wing League, said at a news conference in Moscow.

He reiterated his frequent criticism of the single currency, calling it “an experiment that began badly.”

Meanwhile the euro closed the week on a relatively positive note, improving around 0.10% to 1.1685, after being down more than 0.50% versus the greenback earlier in the day on Friday. The dollar gave up its gains on Friday in line with lower US yields and following lower than expected import prices data and a weaker University of Michigan Sentiment report.

The EURUSD continues to trade within the 1.16 to 1.17 range, with both levels apparently acting as strong short-term support and resistance respectively.

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