For the euro, Italian budget worries are just the latest cause for concern.
The single currency has been on a steady downward slide since the Spring, falling from $1.25 against the US dollar in the first quarter of this year to about $1.15 now.
Its 2018 peak against sterling was more recent. In the late summer a euro bought about $0.91, against about $0.88 now.
Troubled times in big three eurozone economies
Against the Japanese yen, the euro’s decline more closely mirrors its trading pattern against the dollar, with a peak of 137.205 yen in early February and a decline to about 130.000 now.
It wasn’t supposed to have been this way. For the euro, these were to have been the best of times, with French President Emmanuel Macron, elected in May last year, proposing both radical reform at home, to kick-start one of the eurozone’s big three economies, and a shake-up of the eurozone to give it a more co-ordinated economic government.
But President Macron’s domestic changes seem to have bogged down while the German opposition has stalled his plans for a eurozone finance ministry.
More recently, problems in the other large eurozone economies have weighed in on the single currency.