The euro snapped a two-day rising streak following German election results
German elections prompted investors to lock profits into one of the most profitable currency trades of the year ending the euro’s two-day rise. Money managers have piled into the single currency and related bets in 2017, particularly European equities, as the euro zone economy regained momentum and its monetary policy outlook diverged from its counterparts in the United States and Japan, pushing the euro up more than 13 per cent this year. However, and expert termed the impact limited as the effect of the election result is domestic rather than regional. He said that the euro will be more sensitive to any shift in direction from the European Central Bank policy.