Euro jumps above US$1.07

London

THE euro jumped above US$1.07 for the first time since mid-November on Monday, rebounding around two cents after hitting 21-month lows after Italy's prime minister conceded defeat in a referendum on constitutional reform and said he would resign.

The single currency slid as much as 1.4 per cent in Asian trade to US$1.0505, its weakest since March 2015, as investors fretted Matteo Renzi's departure would lead to more political instability in the currency union.