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BlackRock’s Harrison Sees Italy as EU’s Biggest Risk

The euro rose against the dollar as weekend developments in the French presidential elections and better-than-expected economic confidence data boosted the currency, although gains were limited by underlying political risks.

The single currency climbed after euro-area economic confidence rose to the highest level in almost six years, in a sign of continued momentum in the region. That followed favorable opinion polls for independent presidential candidate Emmanuel Macron. Still, with the French election, along with next month’s Dutch vote, remaining as risk events for the currency, it is still among the worst-performing G-10 currencies against the dollar this year.

The pound dropped against all its G-10 peers on reports that British Prime Minister Theresa May’s team is preparing for Scotland to potentially call for an independence referendum. It stayed lower even after May’s spokesman said on Monday that there should be no second Scottish vote. A broader gauge of the dollar was little changed before a…