40 pips down, 50 pips back up
The euro bulls have fought back.
A sagging risk trade is helping the euro. It found support near 1.1160 early in London trade and has battled all the way back to a session high of 1.1212.
Italy will be in focus this week but it may prove tougher for Salvini to force an election than believed. That’s helped to push Italian 10-year yields down 5.5 bps today after a 25 bps jump late last week.