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No clear winners in FX as EUR makes peace.....>

FOREX
FOREX: No clear winners in FX as EUR makes peace with Italian populist
government
-The recent trend of a quiet European morning followed by a livelier US session
looks to repeat itself today with the greenback looking largely directionless
and the EUR shrugging off the continued uncertainty in Italian government.
-After some early volatility in Italian debt, the EUR managed to gain (prompting
a $1.1854 print in EUR/USD) on reports that the M5S/League coalition deal will
not feature a request for debt forgiveness with the ECB. Much of this price
action has reversed ahead of the NY crossover with most major pairs trading
broadly flat. 
-NZD is the best performer, bouncing from a multi-month low printed overnight at
N$0.6851, giving antipodean currencies some breathing room after recent renewed
selling pressure. SEK is the poorest performer, consolidating the recent
pullback in EUR/SEK.
-Various ECB speakers, including Draghi, appear at the ECB's leaving party for
outgoing VP Constancio, leaving markets to focus on US yields once more.

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