According to Ansa news agency
The headline drags the euro lower with EUR/USD falling from 1.1390 to 1.1370 levels. But the outcome here is very much expected so I don't believe there is a major follow through to the downside for the euro unless the commission decides to open procedures against Italy, which is unlikely at this point.
Update: Ansa now reports that the commission is of the view that disciplinary procedures should be adopted against Italy for excessive debt. If they do pursue such course of action, I reckon there'll be some backlash to be had and that will breed further uncertainty in the whole Italexit saga. The euro hasn't responded much yet but keep an eye on this, it has the makings for a real problem in due time.
