EUR/USD trading on back of Deutsche Bank concerns - Scotiabank

Analysts at Scotabank explained that Germany reported slightly weaker than expected Gfk consumer confidence data for October today (10.0 versus 10.2 expected) but the data had no impact on spot trading.

Key Quotes:

"EURUSD did, however reverse from a push below 1.12 behind a local news report suggesting that the German government was working on a contingency plan for Deutsche Bank (in the event the bank needs to raise capital and can’t).

DB shares rose modestly also. However, EUR gains were very limited and the EUR edged off highs after the finance ministry denied the story."