The EUR/USD pair dropped further during the US session after the recovery found resistance at 1.1280. The euro fell to 1.1234, reaching a fresh low. It was trading around the lows, under pressure. The bias points to the downside as the euro remains affected by Brexit concerns and amid mounting tensions regarding Italy’s budget. There are no signals that Italy will present a new budget to the European Commission tomorrow. “Italy may be part of the EU but its budget dispute it treating the #EURUSD like the lira of old. The EUR/USD is down 8.2% against the dollar since Italian election on March 4th and 3.6% since the formation of the current League/5 Star government”, said Joseph Trevisani, Senior Analyst at FXStreet. The greenback continues to be among the strongest currencies supported by Federal Reserve rate hike expectations and the negative sentiment around financial markets. Today the DXY rose to the highest level in 17 months above 97.30. (source: fxstreet)