Tuesday, 6 September 2011

Euro Sinks After Merkel’s Party Loses Election

The euro fell today, dropping for the fifth straight session against the U.S. dollar and the Japanese yen after the party lost the elections gobernante Germany.

Cristiano German Chancellor Angela Merkel Democratic Union lost the elections in six German states. The election results now ignited fears that Germany will be even more instead of paying ransom money from their taxpayers. The Stoxx Europe 600 index of shares fell 2.8 percent, falling for the second straight 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.

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