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Forex Flash: Political uncertainty continues in Italy - BTMU

Lee Hardman, FX analyst at the Bank of Tokyo Mitsubishi UFJ notes that political uncertainty still remains elevated in Italy with the center-left parties led Bersani attempting to reach an agreement with other major parties to co-operate in the Senate after only securing a majority in the Lower House.

He writes, “Bersani’s hopes of securing co-operative agreement with the Five Stars Movement have been reduced following comments from Grillo yesterday stating that his party would not give a vote of confidence to a new government led by either center-left or centre-right parties. It suggests grand coalition between center-left and right parties may be the only viable option left to form a workable government although likely unstable.”

Forex Flash: USD/JPY expected to continue loitering - OCBC Bank

Emmanuel Ng of OCBC Bank is expecting USD/JPY to continue to loiter around current levels after failing to breach the 91.00 floor this week with investors unwilling to initiate a concerted move ahead of BoJ developments.
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EU Jan Consumer Price Index - Core (YoY) declines to 1.3% vs 1.5% (Dec)

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