EUR comes under pressure on reports of EU potentially fining Italy over budget

Pressured by a report about the European Commission possibly re-opening the disciplinary process against Italy over failure to rein debt and fining the country up to $4 billion, the shared currency weakened modestly against its rivals with the EUR/USD pair sliding to a session low of 1.1187. 

With the initial reaction, the 10-year Italian bond yield jumped to a daily high of 2.623% and was last seen adding 2.6% on the day at 2.61%.