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Reuters news cites Goldman Sachs as saying that systemic spillovers from Italian political risks into peripheral Europe could push EUR/USD down by around 5 big figures.  

The coalition government’s (formed by  anti-euro Lega nationalists and the Left Five Star Movement) spending plans puts Italy at odds with the European Union.

“Should this become a more systemic event, we estimate that EUR/USD could fall by around 5 big figures,” the investment bank said in a note published on Thursday.