Euro sags to near seven-week low vs. dollar after messy Italy vote

TOKYO: The euro skidded close to a seven-week low against the dollar while the yen kept some distance from multi-month lows on Tuesday as the specter of political gridlock in Italy spurred traders to seek refuge in the U.S. and Japanese currencies.

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.