We start the week off by taking a closer look at EUR/USD and ponder over the GBP/USD movements.
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The Italian constitutional referendum took place on Sunday. As the focus was on the constitutional changes then it seems that the Italian political structure will be radically altered.
According to the COT CFTC reports, Ruble purchases in a larger scope have reached its historical maximum, while hedgers managed to do four times the sales with the Russian currency.
The inflation levels are still an issue in the US and not only there but also in the rest of the world. There does not seem to be any inflation, as such, rather signs of a deflation ready to happen.
As the State Duma elections took part this Sunday, we can assume that there are steady positions ahead for the Russian Ruble. At the same time, GPB shows very promising rise for the future.