The United States of America Dollar jumped broadly on Monday, September 25, benefiting from elections in Germany and New Zealand that left unclear outcomes about the future of governance.
The dollar gained 0.35 percent against a broad basket of currencies .DXY as investors reduced short bets against it.
The dollar also surged 1 percent against the New Zealand dollar NZD= following that country’s election over the weekend, which left the ruling National Party short of the necessary votes to rule without forming a coalition.
Meanwhile, the British Pound Sterling surged by 0.7 percent to 87.97 pence per euro on Monday, with the single currency weakened by the German election results, which showed a surge in support for the far right and put the country on course for what could be months of coalition talks.
The euro EUR= was last down more than half a percent against both the dollar and sterling EURGBP=.
The euro has been one of the best performing currencies against the greenback this year, having gained more than 13 percent against the dollar.
