German Chancellor Angela Merkel arrives for a meeting of her Christian Democratic Union party, CDU, at their headquarters in Berlin, Germany, Monday, Sept. 25, 2017, after Sunday's parliament election. (Boris Roessler/dpa via AP)
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The single currency and European stocks slipped on Monday after the bloc's most powerful leader German Chancellor Angela Merkel won a fourth term but faced a fractured parliament as support for the far-right surged.The euro slid 0.3 percent to $1.1918, putting more distance between a 2-1/2-year high of $1.2092 reached on Sept. 8, when a European Central Bank policy meeting left currency bulls optimistic the ECB would begin tapering its big stimulus programme.Overall the market moves were fairly modest, however, and some analysts said investors may have used the result as an excuse to sell the euro which was moving lower before the vote.It was at a 1-1/2-month high of $0.7435 as recently as Sept. 20, when speculation for a comfortable ruling party win had boosted the currency.The dollar was up 0.2 percent against a basket of six major currencies at 92.397 .
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