Euro Falls to Lowest Level Against Dollar in 6.5 Months.

Forex - Following Trump's victory, investors’ concerns about potential U.S. tariffs that could harm the Eurozone economy and political uncertainty in Germany have pushed the euro to its lowest level against the U.S. dollar in the last 6.5 months. The EUR/USD fell to 1.06536, a level not seen since May 1. Analysts have indicated that reports in the U.S. media regarding President-elect Donald Trump selecting Robert Lighthizer, who is viewed as a hawk on trade, to implement his trade policy are increasing pressure on the euro. ING strategist Chris Turner stated, “The current thesis for dollar bears is that the implementation of tariffs and the Fed's adjustment to a less restrictive monetary policy will take some time. We disagree and believe that this clean election outcome could boost U.S. consumer and business sentiment while also weighing on sentiment in other parts of the world.”