XE Market Analysis: Europe – Sep 25, 2017

Comments are off

The euro has come under pressure following the election in German, which produced the expected win for Merkel but saw her party and the SPD coalition partner lose ground to the nationalist AfD, the upshot of which is political uncertainty as there is no easy coalition options. EUR-USD and euro crosses are likely to remain under pressure as a consequence. EUR-USD logged a low at 1.1986. EUR-GBP has been the sharpest faller, losing over 0.6% and making a 0/8787 low. Elsewhere, the New Zealand dollar has dropped sharp following weekend elections that failed to produce a clear winner.