The EUR/USD is trading above 1.1400, up on the day. Reports, later denied, that the imprisoned US Pastor Brunson will be released in Turkey, pushed the EUR/USD higher. The Turkish crisis remains in the limelight. The Turkish crisis spurs risk-off sentiment favoring the US Dollar. The Euro opened with the gap on the downside falling to 1.1365 against the US Dollar and after closing the gap it is proceeding lower as the Turkish central bank refused to raise rates and lowered the reserve requirements ration to combat currency crisis. The Euro is negatively affected by the economic crisis and Turkish lira selloff as many of the Eurozone big banks are active in Turkey with the ECB voicing concerns about their exposure to Turkey last week.