The bearish mood around the European currency remains unabated so far on Monday and is taking EUR/USD to the area of daily lows near 1.1470. The downtrend in spot appears to have resurfaced at the beginning of the week following a strong pick up in the demand for the greenback and fresh jitters over the Italian front. In fact, Italian stocks are following the downbeat sentiment today, particularly the banking sector, where Unicredit, UBI and Mediobanca all being halted after reaching the limit down. Today’s docket is not helping EUR either, with investor confidence gauged by the Sentix index came in below expectations at 11.4 for the current month and German Industrial Production contracted at a monthly 0.3% in August.