Deutsche Bank (NYSE:DB) stock jumped 11% in Wednesday morning trading in the U.S. amid optimism that the next German government will implement fiscal reforms allowing more spending on defense and infrastructure.

BERLIN (Reuters) -German financial watchdog Bafin on Tuesday fined Deutsche Bank 23.05 million euros ($24.3 million) over breaches in the sale of derivatives in Spain and two other failings at its Postbank business.

Deutsche Bank’s announcement comes after the USD’s price plummeted substantially on Tuesday. The dollar fell about 0.7% even as the US continued to impose tariffs on its major trading partners. Many believed this move would strengthen the currency.

The U.S. dollar could be losing its reputation as a safe-haven currency, according to George Saravelos, who is Deutsche Bank’s global head of