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Political uncertainty continues amid risk.....>

FOREX
FOREX: Political uncertainty continues amid risk off flow
- Italy was again the main driver of risk through the European morning. With
Autumn elections looking increasingly likely and the MS5/League vote share
rising since last week, Italian 2yr yields underwent their largest one-day rally
since 1992 as Italy's bonds plummeted across the curve.
- As the US session got underway equities opened deep in negative territory,
with JPY the main beneficiary amid the risk averse theme. 
- GBP continued sub $1.33 with losses of 3.75% in May and is on course for its
biggest monthly fall since June 2016 (-8.09%).
- EURUSD is currently showing losses of 4.23% on the month and is on course to
register its 7th consecutive weekly fall. Last $1.1535.
- Weaker oil prices amid a stronger USD pressured the commodity space. USDCAD
comfortably held above C$1.30, NZD & AUD suffered too.
- TRY extended gains to TRY4.5352 against the USD after headlines that said
Turkey is ready to raise rates should May inflation rise.
- German state & national CPI the main highlights tomorrow.

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