Given euro a boost. Also ESM gaining banking license is ongoing discussion ECB not talking about negative deposit rate for now (that’s a shame) Negative interest rates on deposits might have some technical problems Growth dynamics in euro zone lower than was expected at beginning of year Inflation also tends to be lower than previously expected ECB sees no deflation perspective EUR/USD up at 1.2095 having spiked as high as 1.2115 (EBS) after Nowotny comments hit Bloomberg. Sell orders clustered up at 1.2130/50, buy stops above there. European stocks pretty much back to flat on the day. (full story)