Euro fell on the European market on Friday against a basket of global currencies, falling for the first time in five days against the USD, in a correction and profit from the highest level in three weeks, but is the biggest weekly gain since February, In Italy, Europe’s third largest economy, as well as the possibility of the European Central Bank starting to normalize monetary policy this year.

Euro was down 0.2% at 06:55 GMT, trading at $ 1.1775, the opening price of $ 1.1798 and a high of $ 1.1810 and a low of $ 1.1771.

Euro ended Thursday’s trading up 0.2% against the US dollar, its fourth consecutive daily gain, among the longest daily gain since April 6, hitting a three-week high of $ 1.1840.

Over the course of the week, the euro rose as much as 1 percent against the dollar, making its second consecutive weekly gain, the biggest weekly gain since February.

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In Italy, the new government, led by law professor Giuseppe Conte, was sworn in by President Sergio Matarella to end the violent political crisis in Europe’s third-largest economy, which lasted three months after the March election.

A five-star anti-enterprise movement and the far-right right-wing party have reached a compromise with President Sergio Matarella to form a coalition government led by Giuseppe Conte to fend off fears of a new election that would be seen as a referendum on Italy’s continued EU membership.

During the first speech of the new Prime Minister Giuseppe Conti after winning the confidence of parliament, he stressed the continuation of his country within the European Union, and referred to work to reduce the public debt of the country without the need for austerity program.

Euro also supported during the week the possibility of the European Central Bank starting to normalize monetary policy this year, especially after European inflation accelerated faster than expected in May and after comments by a number of central bank members.

European Central Bank chief economist Peter Bright said on Wednesday the bank would discuss the next meeting whether to end the bond purchase program later this year. Bright is a close ally of bank governor Mario Draghi.

German central bank governor Jens Weidmann, Germany’s most likely candidate to be the next president of the European Central Bank, said he expected the bank to cut its bond buying program by the end of this year, which was also confirmed by Klaus Knott, Governor of the Dutch Central Bank. Cash stimulation.