Euro buyers are daring to venture back out to play on DB rescue talk 28 Sept

The woes of Deutsche Bank have helped to undermine the euro in the past few sessions but rumours of proposed government support are helping to find dip-demand this morning.

The DAX is up 1.2% but off its highs and that's capping EUR gains for the moment as other reports dismiss the notion of Germany being able to help its own banks whilst looking down their nose at the Italian bank debacle.

EURUSD currently 1.1220 with offers/res into 1.1250 and larger interest at 1.1280 and 1.1300 still casting a shadow.

Large option expiries also in play today and they appear to be providing additional support.

EURUSD had a look above 0.8630 more than reversing the early losses to 0.8590 and that fresh demand continues to cap GBPUSD gains.

Still more to come from Draghi later, and Yellen ofc, and we can expect a lot more dancing on hot coals.