I don't know about anyone else but I have returned to complacency on Italy. Sure, further out I reckon its ticking bomb, but for now …. nah.
Not so though says DB.
- The bank highlights political uncertainty in Europe, particularly Italy
- Also flag concerns over economic data turning disappointing
- Prefer selling EUR/USD on rallies to buying on dips
- See 1.1800 / 1.2000 as a topside limit for it
Interesting from DB, obviously not convinced on the recent EUR strength on the back of ECB hinting on winding back QE
