Germany's Scholz to run for SPD leadership

Citing a spokeswoman for the Social Democrats (SPD), Reuters reported that German Finance Minister Olaf Scholz has announced his intention to run for the leadership of his centre-left party.

There seems to be no market reaction to this announcement. As of writing, the EUR/USD pair was trading at its lowest level since August 1 at 1.1078, losing 0.25% on a daily basis. If the pair fails to rebound above the 1.11 mark by the end of the day, it will post its lowest weekly close since April 2017.