Published at 04:08 (GMT) 12 Feb
Italian PM Enrico Letta on Tuesday promised new measures to lift the economy and strengthen his fragile coalition after weeks of tension with his own party leader Matteo Renzi over the slow pace of reforms.
New leader of the centereft Democratic Party (PD) Renzi has said the govt would be better off calling new elections if it is unable to push reforms more effectively - Reuters.
On FX, some focus on the tensions between the PM and his own political party leader. Leading to concerns over stability of the coalition government. Good to watch. EUR/USD at 1.3630-35, a tad weighed by EUR/AUD sales from 1.51 to 1.5040-50 on AUD rally following better China trade data. EUR/AUD supoprt at key 1.5000 level. a break to see EUR/AUD at lowest in 3-months since Dec 12 1.4992. Offers at 1.5080-00.
EUR/USD offers at 1.3650-60 now, more ahead of key 1.3700. Talks of semi-official, sovereign, real money bids ahead of 1.36 lows. WL
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