Euro declines after German coalition talks fall apart

Nov 20, 2017, 5:44 AM EST
(Source: Alf Melin/flickr)
(Source: Alf Melin/flickr)

The euro slid in Asian trade overnight after the exploratory talks for the formation of a coalition government in Germany collapsed on Sunday.

The political uncertainty in the European powerhouse nation weakened the euro by 0.6 percent against the yen and by 0.5 percent against the U.S. dollar, writes The Guardian.

The sudden decline in the euro comes at a time when the European Central Bank is scaling back its stimulus in the wake of a strong European economic growth, notes Bloomberg