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According to the Italian news outlet La Stampa, League, and Five Star  were able to agree that Paolo Savona’s role in a possible coalition government would be the Minister of the EU relations.  

The initial reaction to this development weighed on the shared currency, and the dragged the EUR/USD pair to a fresh session low at 1.1640.

However, the pair was able to quickly reverse its course and spike up to the 1.17 handle after Giovanni Tria was named as the new Minister of finance.