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The European Central Bank (ECB) policymaker and the head of the Bank of Finland – Olli Rehn, was out on the wires in the last hour, commenting on the recent hot topic of Italy’s budget proposal, and said that Italy budget deficit poses serious concerns as the central bank look to normalise monetary policy in the coming year.

Meanwhile, the EUR/USD pair held on to its heavily offered tone for the fifth consecutive session, albeit now seems to have found some support near the key 1.1500 psychological mark.