The surge in Italian bonds is helping financials
It all can be traced back to Salvini's comment here. He was reported as saying that he's willing to make cuts to the amounts on citizens' income and that's a positive note in terms of trying to reconcile things with the European Commission.
The commission will still disapprove of the revised budget later in the day but this at least opens room for some form of round table discussion between the two parties moving forward.
The positive sentiment in risk appetite here is still helping to keep yen pairs underpinned on the day. EUR/JPY and GBP/JPY both trade near session highs at 128.69 and 144.66 currently. Meanwhile, AUD/JPY has also recouped some overnight losses to 81.70 at the moment.
