Systemic risk from Italy could push euro down '5 big figures' - Goldman Sachs

Reuters news cites Goldman Sachs as saying that systemic spillovers from Italian political risks into peripheral Europe could push EUR/USD down by around 5 big figures. 

The coalition government's (formed by anti-euro Lega nationalists and the Left Five Star Movement) spending plans puts Italy at odds with the European Union.

“Should this become a more systemic event, we estimate that EUR/USD could fall by around 5 big figures,” the investment bank said in a note published on Thursday.