Germany’s SPD rejects coalition talks with Merkel’s Conservatives - Spiegel

Fresh headlines are crossing the wires, via Germany’s news website – Spiegel, citing that the German Social Democrats Party (SPD) rejects coalition talks with Merkel’s Conservatives Party.

Last Friday, the SPD and Merkel's parties reached a coalition breakthrough agreement after hours of exploratory talks. 

EUR/USD failed to sustain above the midpoint of 1.22 handle and fell sharply to hit daily lows at 1.2216 on the above headlines. As of writing, the spot recovers to 1.2235 levels, still down -0.26% on the day.