EUR/USD up on Italian budget news

The common currency advances on headlines indicating that the Italian government has agreed a 2.0% deficit target, which will likely get the approval of the EU Commission.  The EUR/USD pair, which was trading at around 1.1320 jumped to the current 1.1360 level on relief.

Italian PM Conte is scheduled to meet with EU’s Junker today at 15:00 GMT to discuss the 2019 budget of the battered country.