Early trade in New York: Euro pressured by Italy's political crisis

The euro slipped against the yen and was flat versus the dollar on Monday after Italy's prime minister said he would step down early, putting the country's outlook in a state of flux and raising concerns about the euro zone's near-term prospects. The euro was down 0.1 percent on the day against the yen at 106.52 yen, falling for a third straight day. It dropped as low as 105.94 yen, its weakest in about two weeks.
Against the dollar, the euro was flat at $1.2927. Euro resistance remains at the $1.2940 level, traders said, with support at $1.2885 and $1.2860. The greenback dipped 0.1 percent for the day to 82.41 yen as traders said macro funds cut long dollar positions.