Euro/dollar skids to nearly 7-week low on Italy vote concerns

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From International Desk - International Currency News

The euro skidded to an almost seven-week low against the dollar in Asia on Tuesday, after political uncertainty following an Italian election rekindled fears about the euro zone's debt crisis.

The euro fell as far as $1.3042, its lowest since Jan. 10.

Italy's centre left won the lower house as widely expected, but projections by Italian media indicate no party or coalition will be able to form a majority in the upper house, or Senate.

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