German President Steinmeirer to make a statement at 13.00 GMT - RND

According to news report, via LiveSquawk citing RND (RedaktionsNetzwerk Deutschland), German President Frank-Walter Steinmeier plans to make a statement at 2PM CET or 1300 GMT. 

As is already known, German Chancellor Angela Merkel would be meeting him to inform that she had failed to form a coalition government, with fresh elections now looking a distinct possiblity if he is not convinced that Merkel can still work effectively with a minority government.

Meanwhile, the EUR/USD pair reversed early dip and might now be looking to building on its recovery beyond the 1.1800 handle.