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According to the latest headline floating on the wires, via Reuters citing sources, Italy’s 5-Star and League leaders will be meeting shortly and are yet to find a substitute for Paolo Savona as economy minister.  

Leaders hope to reach an agreement to form a coalition government either today or tomorrow.

The news had a rather muted impact on the market, with the EUR/USD pair extending its retracement slide from levels beyond the 1.1700 handle and turning marginally lower for the day.