What happened this week: In Europe the market is loaded with emotions at present and is divided into two clear sections.

These high emotions are being created by the rumours and uncertainties about the situation in Italy. The little, if any, official news about the situation related to VAT fraud is leaving plenty of room for gossip and speculation which is circulating freely within the trade. Names, numbers, consequences, everything is being thrown around and has created an environment of fear which always leaves plenty of room for price volatility.

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