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Forex Flash: Berlusconi has provided a path toward a new even if limited government - BBH

FXstreet.com (Barcelona) - Brown Brothers Harriman analysts note that in Italy, Berlusconi has provided a path towards a new, but limited government by offering to support the PD´s Bersani as PM in exchange for a PDL candidate becoming president.

They see that the President in Italy is largely ceremonial but can appoint lifetime Senators (like Monti) and has an important role facilitating elections and new governments. Separately, they add that the EC indicated a willingness to allow Italy to borrow more to repay debts, especially to small and medium sized businesses, many on the verge of bankruptcy due to the uncollected funds from the government. They write, “The EC comments suggest these new borrowings would be not counted against its fiscal targets. Estimates of the government’s arrears range between EUR50-80 bln.”

Forex: GBP/USD tumbles ahead of BoE minutes, closer to 1.5000

The GBP/USD is falling down ahead of the BoE March meeting minutes after having reached as high as 1.5111. The pair couldn’t hold above the opening line and is tumbling, currently at 1.5036 low. Investors want to know BoE’s King position on QE and what might come in the future knowing that UK data has been weak lately.
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Forex: EUR/USD back below 1.2900

The bloc currency is once again trading in sub 1.2900 levels after the Current Account figures in the euro area showed a €4.9 billion deficit in January from a €29 billion surplus in the previous month....
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