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Forex Flash: First Italian exit polls at 2pm London time - Wetpac

Italian elections, while somewhat overshadowed by events in the UK, Japan and even the Oscars award ceremony, is the key risk event for the European session. Polling booths are opened all Sunday and open again from 7am until 3pm Italian local time on Monday.

As Sean Callow, currency strategist at Westpac, notes: "The first exit polls will be released with the closing of voting at 2pm London time (3pm local). EUR/USD should be positively correlated with the performance of frontrunner Bersani (centre-left) and incumbent PM Monti, while a surprise win for spoiler Berlusconi would be taken very negatively."

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Japan’s economy minister Amari, who is speaking in Tokyo to reporters, is putting in doubt the early rumours floating the markets, after saying he is not aware whether or not Mr. Kuroda will be the BOJ nominee chosen by Mr. Abe.
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Forex: EUR/USD around 1.3200 in Italy's hands

With Italian elections still underway until Monday afternoon when first results will be known, and ahead of HSBC manufacturing PMI China at 01:45 GMT, EUR/USD has opened higher in early Asian session trade to start the week off, printing fresh weekly highs around 1.3220, just to ease back to session lows at 1.3185, now trading at 1.3200 round last. The pair is slightly higher from previous weekly close Friday, up 12 pips last.
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