Euro Surges On Report Berlusconi May Not Run

Bloomberg is reporting that Silvio Berlusconi may withdraw his candidacy for prime minister if current prime minister Mario Monti steps in.

According to Bloomberg, Berlusconi says he has very high esteem for Monti.

Earlier this week, Mario Monti said he would resign after releasing Italy’s next budget.  Monti has rapidly lost supporters recently.  Days later, Silvio Berlusconi announced that he would enter the race.

The euro instantly jumped on today’s headline.  Here’s the intraday chart.

euro

Photo: FinViz

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