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Italy’s President Sergio Mattarella has given a mandate to the former President of the European Central Bank (ECB), Mario Draghi, to form a new government, as reported by Reuters.

Market reaction

Investors seem to be reacting positively to this development. As of writing, Italy’s FTSE MIB Index was up 2.5% on a daily basis at 22,616. 

On the other hand, the shared currency continues to have a difficult time attracting investors on Wednesday. At the moment, the EUR/USD pair is losing 0.24% on the day at 1.2012.