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Euro slips after German election results

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Euro slips after German election results

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The euro slipped against its major peers early on Monday as markets digested the German election result.

Traders appeared concerned over the forthcoming coalition talks and the political uncertainty in the eurozone’s most powerful economy.

Robert Halver, Head of Capital Market Analysis at Baader bank said: “With the far-right Afd, Germany is moving into the reality of other European countries which also have populist parties in their parliaments.
It’s very important, even though it will be difficult, that the new government can create an economic vision with jobs, social security and have enough vision that the electorate goes back to voting for the established parties in four years, so that German democracy is preserved.”

Despite winning a fourth term, Chancellor Angela Merkel is struggling to form a coalition after her centre-right alliance slumped to its worst result since 1949.