Euro falls to early 2017 lows versus greenback

Euro slumped in American trade to January 27 lows against the greenback following earlier euro zone data today and amid a lack thereof from the US due to the Veterans' Day bank holiday. 

As of 05:46 GMT, EUR/USD fell 0.79% to 1.1246, with an intraday high at 1.1332, and the lowest since early 2017 at 1.1240. 

Earlier Italian data showed industrial output fell 0.2%, compared to a 1.7% increase in August, while beating estimates of a 0.5% drop. 

Italian Deputy Prime Minister Luigi Di Maio warned today that adhering to the EU's budget deficit limits would be suicidal for Italy. 

Italian Prime Minister Giuseppe Conte met with Di Maio and the minister of the interior, Matteo Salvini to discuss the latest developments in the budget crisis, noting that Italy is required to respond to the EU regarding regarding their breaking rules, which could expose them to sanctions from the union. 

Moving on to the Brexit saga, European Council President Donald Tusk said he told UK Prime Minister Theresa May today that final deadline for a Brexit deal in time for the November summit is tomorrow, Wednesday, and if a deal is reached indeed, the Summit will be pushed back to the middle of the month. 

Tusk also asserted that Europe is working to avoid a trade dispute with the EU, noting the issue will be discussed with President Donald Trump during the G20 Summit. 

Otherwise, Federal Reserve Bank of San Francisco President Mary Daly spoke about the economic outlook at the Regional Economic Development for Eastern Idaho Conference, earlier today.

The Federal Reserve voted at the November 7-8 meeting to maintain interest rates at below 2.25% as expected by market analysts, while vowing to carry on the path of policy tightening.