Catalonia worries drive euro down
Oct 3, 2017-
The euro slipped against the dollar on Monday after a violence-marred independence vote in Spain’s Catalonia region and as higher US Treasury yields drove the dollar up across the board. Investors were watching the political situation in Spain nervously, after police used batons and rubber bullets to try to prevent Sunday’s vote in a show of force that left hundreds injured. Spanish Prime Minister Mariano Rajoy now faces the country’s biggest constitutional crisis in decades, with newspaper editorials saying the banned ballot—in which Catalan officials said 90 percent of voters had chosen to leave Spain—had set the stage for a decisive clash between Madrid and the region. Many analysts, though, said the impact on the euro would be limited, as at this point most investors were not worried that the vote would have a significantly negative impact on the broader euro zone.
Published: 03-10-2017 08:39