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Euro Drops to One Month Low

Posted by Joseph Trevisani on Sep 26, 2017 5:43:03 PM

Germany was the catalyst for the weekend reversal of the euro. While Angela Merkel will retain her leadership the pressure on the euro will continue as the same populist currents evident in the  German vote roil European politics.

Catalonia holds an independence vote on October 1st against the wishes of the central government in Madrid and the Sicilian regional elections on November 5th will test the strength of the anti-government Five Star Movement. 

The euro traded as low as 1.1756 in New York afternoon action, its weakest against the U.S. currency since August 23rd.  Since its 32 month high on September 9th at 1.2092 the euro has lost 2.5 percent of its dollar value. 

eur sept 26.png

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Chart: Alpha Trader

 

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