Forex Flash: Italian polls in focus Monday, market friendly outcome expected – UBS

Italy's general election got underway on Sunday and voting booths are due to remain open until 14:00 GMT Monday. The results of exit poll surveys are likely to hit the newswires shortly afterwards and while these may not be reliable indicators of the final outcome, volatile euro trading should be expected as estimates are refined over the following 12 hours or so.

“Our European economists still expect a market-friendly outcome as their base case, and the relaxed behavior of Italian sovereign bond yields over recent days suggest this is now a consensus view.” notes Research Analyst Gareth Berry at UBS.