May 28, 2018 / 6:20 AM / 6 months ago

Euro pulls up from multi-month lows, early elections in Italy loom

FILE PHOTO: The signature of President of the European Central Bank (ECB) Mario Draghi is written upon an outsized specimen new 20 Euro banknote at the ECB headquarters in Frankfurt February 24, 2015. REUTERS/Ralph Orlowski/File Photo

TOKYO (Reuters) - The euro pulled up from multi-month lows on Monday, after Italian President Sergio Mattarella rejected a vocal critic of the single currency as the economy minister and raised the prospect of an early election.

The euro was up more than 0.6 pct at $1.1728, rebounding from a 6-1/2-month low of $1.1646 set on Friday.

It also gained about 0.8 percent versus the Swiss franc and the yen, bouncing back from three- and 11-month troughs, respectively.

The far-right League and anti-establishment 5-Star Movement, the two populist parties attempting to form a coalition in Italy, had pushed for Paolo Savona to be appointed as economy minister. An early election in Italy now looked inevitable.

Reporting by the Tokyo markets team; Editing by Kim Coghill

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