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Apart from the prospect of the Fed remaining well ahead of other major central banks on the path of monetary policy normalisation, the US dollar is also benefiting from growing concerns about the Eurozone with focus on Italy where Eurosceptic parties are on track to form a government, according to analysts at Rabobank.

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“The Polish zloty and its CEE peers have weakened in tandem with the euro in the early hours of trading after French Finance Minister Le Maire reportedly warned that the financial stability of entire Eurozone will be at risk if Italy’s new government does not respect its commitments on debt, the deficit and the banking sector.”