Euro Sinks After Merkel’s Party Loses Election

4:11 AM // 0 comments // Unknown // Category: Forex

EuroThe euro plunged today, falling for the fifth consecutive session against the US dollar and the Japanese yen, after Germany’s ruling party lost election.

German Chancellor Angela Merkel’s Christian Democratic Union lost election in all six German states. The results of the elections ignited worries that now Germany will be even more opposed to paying bailouts with money of its taxpayers. The Stoxx Europe 600 Index of shares lost 2.8 percent, falling for the second day.

EUR/USD slipped from 1.4161 to 1.4121 and EUR/JPY fell from 108.92 to 108.56 as of 12:50 GMT today.

If you have any questions, comments or opinions regarding the Euro, feel free to post them using the commentary form below.

Earlier News About the Euro:

    * Euro Ends Rally as ECB Expected to End Interest Rates Hikes (2011-08-30)
    * Euro Falls for Second Day vs. Dollar (2011-08-25)
    * Euro Drops as Europe's Economic Growth Slows (2011-08-16)
    * Euro Weakens as Investors Shun European Bonds (2011-08-02)
    * Euro Slids for Second Day on Debt Crisis Concern (2011-07-28)