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Rumors of 11 Eurozone banks set to fail ECB's stress tests weigh on euro

FXStreet (Łódź) - The euro dropped by 0.19% on the news published by the Spanish agency Efe, suggesting that 11 Eurozone banks will fail ECB's stress tests.

The names of the banks weren't given but the article pointed to 3 Greek financial institutions, 3 Italian, 2 Austrian and one from Belgium, Portugal and Cyprus.

The ECB reacted by issuing a statement that “any inferences drawn as to the final outcome of the exercise would be highly speculative until the results are final on the 26 October.”

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