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Italy once again dominated risk overnight....>

DOLLAR
DOLLAR: Italy once again dominated risk overnight after Corriere reported that
the Italian budget plan seeks to cut the deficit to 2% of GDP in 2021. The USD
holds heavy against most of G10 (except NZD & JPY), EURUSD looks set to
challenge the $1.1600 level, while GBPUSD reclaims $1.30. The DXY witnessed a
minor pullback off yesterday's high (95.71) to 95.25 with bulls needing to hold
above the 50-dma at 95.11 for resumption of the uptrend. Gold comfortably holds
above $1200 in the middle of its narrow $1203-1208 range. Notable
option-expiries for today's NY cut: EURUSD $1.1500(E1.52bn), AUDUSD
$0.7185/90(A$1.4bn).  

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