EU summit reaches a deal on immigration - Italy happy - euro higher

I posted earlier on the Italians blocking all agreements at the EU summit until an agreement was reched reached on immigration.

Before that I warned yesterday there could be political trouble:

• Immigration issues will likely dominate

That helped weigh on EUR overnight

Then, today:

• The EU summit Thursday resulted in Italy wanting further moves on immigration:
• Prime Minister Giuseppe Conte blocked all joint decisions until he gets concession on immigration

If you follow along on ForexLive you'll know we keep track of events likely to impact markets, so issued an update:

• Rumours of an immigration deal at the EU summit dinner

And now, deal reached

• EUR/USD up - EU reaches immigration deal

EUR relieved: