The euro fell to the weakest level since March 2015 as Italian Prime Minister Matteo Renzi said he would resign after conceding defeat in the nation`s constitutional referendum, according to Bloomberg.
The single currency dropped against all its 16 major counterparts as the referendum on Renzi`s plans to rein in the power of the Senate was defeated by 60% to 40%, with almost all the vote counted. The euro pared losses following the premier`s speech, while the yen erased an earlier advance against the dollar, Bloomberg reported.
The euro dropped 1.1% to $1.0548 as of 13:36 in Tokyo after falling as much as 1.5% to $1.0506, the lowest since March 16, 2015.
At the same time, Reuters reported that Britain`s FTSE to start the day 0.4% lower.
As UNIAN reported earlier, following a referendum defeat, Italian PM Matteo Renzi has said he will step down without delay. Initial polls have suggested Italians overwhelmingly voted against the premier`s proposed constitutional reforms.