EUR/USD Lower after German data, election results





© Reuters. The Euro is losing ground against the dollar, as German election results weigh

Investing.com — The euro moved lower against the U.S. dollar on Monday after the release of the slightly disappointing German data and investors were still the weekend elections in Germany to digest.

EUR/USD was down 0.45% to 1.1903 of at 04:15 ET (08:15 GMT).

Data on Monday showed that German business confidence edges lower in September. However, the reading remained close to the highest level on record, what are the dynamics in the euro-zone remains the largest economy.

The euro weakened after the German Federal election on Sunday, the growing support for extreme right-wing party.

German Chancellor Angela Merkel won a fourth term on Sunday, but will have to build, to form a coalition government, as the Conservative support in the face of a rise in anti-immigration Alternative for Germany (AfD) is lost.

The euro was also lower against the pound, with EUR/GBP down 0.52% at 0.8802.

The pound recovered from losses on Friday after UK Prime Minister Theresa May, some new evidence was, how the Brexit will be continued.

May proposed a transition period of approximately two years after the UK leaves the European Union, during which time access to the single market to the current conditions.

Shortly after the may speech, the Rating Agency Moody’s downgraded Britain’s credit rating of Aa2, upgraded to say the government’s plans to reduce the debt, had already knocked off course and Escape, a burden on the economy.



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