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Forex Flash: Italian vote is overwhelming anti-austerity vote - Societe Generale

Kit Juckes, Global Head of Currency Strategy at Societe Generale notes that the Italian election result is a very strong anti-austerity protest which leaves virtually no chance of a workable government being put into place.

With a few more votes to count, he sees that Mr Bersani’s centre-left coalition appears to have won the Chamber of Deputies (the lower house) but no party has a majority in the Senate and patching together a coalition may well be impossible, leading to a new elections, which may not deliver a stable government either.

Forex Flash: EUR/USD may remain under near term bearish pressure - OCBC Bank

Emmanuel Ng of OCBC Bank notes that with the pair violating technical support levels, EUR/USD may remain under downside pressure in the near term.
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Forex Flash: USD/JPY looking to build a base - OCBC Bank

Emmanuel Ng of OCBC Bank comments that he is expecting USD/JPY to start building a base around current levels with 90.80-91.30 expected to offer interim support with markets still awaiting news on the BoJ nominees.
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