Research Team at ING expects the EUR to stay under pressure as they struggle to see the Italian government backing down on the budget impasse (despite all of Mario Draghi’s best efforts to inject a bit of calm into the situation).
Key Quotes
“Italy’s position seems unmoved with both deputy prime ministers Salvini and Di Maio stressing their reluctance to change the current budget draft. While forward-looking indicators have been more tepid, the only potential support for the EUR could come from stronger GDP and inflation data in the week ahead.”
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