Euro Drops as German State Vote Deals Merkel A Blow

Monday, 29 October 2018 13:50 WIB



The euro weakened against all but one of its Group-of-10 peers after German Chancellor Angela Merkel's fragile coalition took a beating at a state election, posing a further threat to her government.

The Swiss franc also fell along with the euro against the greenback.

Merkel's Christian Democratic Union had its worst showing in the state of Hesse in more than 50 years, while the Social Democrats -- her junior coalition partner at the federal level -- garnered its lowest support there since World War II.

EUR/USD fell as much as 0.1% to 1.1387 after touching 1.1336 on Friday, the lowest since Aug. 16

USD/JPY traded little changed at 111.95 versus day’s high of 112.05.

AUD/USD gained 0.1% to 0.7097, advancing for a third day.

Source: Bloomberg


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