Italian President Mattarella: Conte has resigned, consultations to begin tomorrow at 15:00 BST

• Italian President Mattarella says that Conte has announced his resignation on Tuesday.
•  Consultations to begin tomorrow at 15:00 BST.

Italian Premier Giuseppe Conte announced his resignation Tuesday following the collapse of his 14-month-old populist government. Conte blamed a rebellious and politically ambitious deputy prime minister who triggered a political crisis in a gambit to force early elections that could bring the right-wing, anti-migrant leader to power.

FX implications: 

The euro will not be in favour all the while politics continue to drag it down. Should any early elections sweep Salvini into the premiership, financial markets could be rattled by his Euro-skepticism and a mix-up with Brexit and a dovish ECB...downside risks prevail.