Italy's Conte: Government needs 23 billion euros to offset planned sales tax hike

Italian Prime Minister Giuseppe Conte crossed the wires in the last minutes saying that his government needs 23 billion EUR to avoid the scheduled increase in the sales text in 2020.

"Monday's cabinet meeting will discuss updated budget forecasts," Conte added. "I would like to halve the sales tax on energy bills to 5% from 10% at present. My goal is to increase workers' net salary."

The shared currency failed to capitalize on these comments and the EUR/USD pair was last seen trading at 1.0920, erasing 0.15% on a daily basis.