The dollar languished at eight-month lows early in Asia on Thursday as the U.S. government shutdown dragged on, while positive developments in Italian politics and a watchful but patient European Central Bank helped lift the euro.
The common currency rose as high as $1.3608, a level not seen since early February, after Italian Prime Minister Enrico Letta won a confidence vote in parliament as Silvio Berlusconi backtracked on threats to bring down the government.
Adding to the euro’s momentum, the European Central Bank simply reiterated it was ready to use any policy option to temper market interest rates, but did not flag immediate action.
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