I've ran a trapline for over 25yrs. If there are deer in an area, there are coyotes, and most frequently, the reverse is also true. If there's a coyote CURRENTLY PRESENT in the trap, of course a deer will steer clear, but only at a comfortable distance - in other words, there won't be nuclear fall out where no deer will step within a mile of a location where a coyote was caught a few days prior.
I've had traplines within a hundred yards of my deer stands for decades. The only real downside is NOT the coyote scent, but rather the HUMAN foot traffic you're required to put into your area for the traps. If you're setting 6 traps, don't bother, you're not going to catch much anyway, but if you're actively trapping, you're making a lot of contact on that area which can be detrimental to deer hunting. If you're walking your lines daily (as required in most states), then you're laying human scent all along your trapline, where you might be deer hunting, every day. I plan my trap lines so I can access them without blowing up the travel lanes my deer use, and then when I'm near or in rifle season, I might not set some of my traps (or pull the sets entirely) so I don't blow up my area. Another good option, in your case, is to use deer-safe snares, so you don't have quite as much ruckus from the live coyote in the trap. I have placed game cameras over some of my trap lines, and have had deer walk right past within a handful of yards a dead coyote in a snare or conibear.
Not sure how many of the guys above have ever trapped coyotes in deer woods, but I'll say from experience, it's not rocket science, and it's not nearly as much of a "deer deterrent" as many guys might think.