EU Commission's VP Katainen out on Rtrs 5 Dec

  • lots of instability in Europe already before the vote
  • essential for Italian institutions now to create stability
  • authorities know how to protect stability in banking sector

Blah dee blah

Meanwhile EURUSD consolidating around 1.0640 after its rapid early rally to 1.0662 then retreat to 1.0631

EURGBP still underpinned and capping cable rallies while EURJPY puts a bid under both core pairs as risk sentiment improves from its Asian wobble.