The good news just keeps on rolling. Italy May PMI came in a 41.1, up from 37.2 in April, and some way above the median forecast of 39.5. It is the highest read since Sept 08, and the biggest monthly rise ever.
The news has helped EUR/USD extend rally to 1.4225 at writing.
Elsewhere cable just keeps steaming ahead, presently at 1.6385. Next technical resistance at 1.6395/00.