Euro Strengthens on Speculation Deutsche Bank Fine Will Be Lower
- Shared currency had weakened on European bank credit concern
- Gain in September extends quarterly advance to 1.2 percent
Deutsche Bank Rebounds on DOJ Settlement Report
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The euro gained as Deutsche Bank AG shares rebounded on speculation it will reach a lower settlement with the U.S. Department of Justice in connection with an investigation into residential mortgage-backed securities.
The shared currency erased losses after a media report that the lender is nearing a $5.4 billion settlement with the U.S. Department of Justice, less than half the amount initially requested. Demand was also bolstered as a report showed inflation in September in the euro area accelerated to the fastest since late 2014 .