The euro fell to the weakest level since March 2015 and Italy’s bonds declined as the nation’s Prime Minister Matteo Renzi said he would resign after conceding defeat in the constitutional referendum.
The single currency dropped against most of its 16 major counterparts as the referendum on Renzi’s plans to rein in the power of the Senate was defeated by 59.1 percent to 40.9 percent, according to the final tally. The euro pared losses following the premier’s speech, while the yen erased an earlier advance against the dollar. Italy’s 10-year bond yield climbed the most in three weeks, paring last week’s decline.
