LONDON—The euro wilted on Thursday as the European Central Bank geared up for its first rate rise in over a decade and as political tumult in Italy offset relief following the restart of Russian gas flows through the region’s largest pipeline.
Traders will have more than just the landmark rate move to juggle later, with the ECB also set to sketch out its “anti-fragmentation plan”—a bond market intervention scheme it hopes will prevent another eurozone debt crisis.
The euro had risen as high as $1.0230 overnight but fell to $1.0185 in Europe after three of Mario Draghi’s Italian government coalition partners snubbed a confidence vote he had called on Wednesday to try and renew their fractious alliance….