Currencies: Euro tumbles to 21-month low against dollar after Italy’s ‘no’ vote

The euro fell against its rival currencies on Monday, tumbling 1.4% against the U.S. dollar, with concerns about the eurozone instability driving volatility after Italians rejected constitutional overhauls in Sunday’s referendum.

The common currency EURUSD, -0.7406% dipped to $1.0505 in early morning Asia session, its lowest level since March 16 last year before regaining some ground to $1.0564. The single bloc currency was chancing hands at $1.0652 late Friday in New York.

Against the yen, considered a safe haven asset that retains its value during periods of geopolitical or financial instability, the euro EURJPY, -0.55% lost as much as 2.0% to ¥118.74, before recovering to ¥119.88.

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