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Forex Flash: Political resolution alludes in Italy – Deutsche Bank

FXstreet.com (Barcelona) - The Italian parliament will convene to elect a successor to President Napolitano. Yesterday, the center-left's Bersani proposed former Senate speaker Franco Marini as candidate for Italy's president. Marini, a former unionist, also got the support of the caretaker PM Mario Monti and center-right leader Berlusconi.

According to Macro Strategy Analysts J. Reid and C. Tan at Deutsche Bank, “ “Nevertheless, Marini's election still has an element of uncertainty. Marini faces opposition from within Bersani's own coalition, with Bersani's main party rival, Matteo Renzi, immediately saying he would not back the candidacy.” Renzi described Marini as a candidate from the last century.

United Kingdom 30-y Bond Auction up to 3.121% from 2.95%

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Forex: USD/JPY bulls ahead to 98.35/40

The USD/JPY has shot higher during European trading Thursday, after a failed downside attempt at the 98.00 barrier was met with a fierce rebound. Having risen nearly 35 pips in recent minutes, the pair now is firmly entrenched in positive territory (+0.28% above its opening), settling at 98.35/40.
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