Eur/Usd was marked down to $1.1897 at...>

EURO-DOLLAR: Eur/Usd was marked down to $1.1897 at the Asian start, as traders

reacted to the German election result. Merkel won a fourth term but polled less

than forecast, with one her coalition partners the SPD declaring it will form

the next opposition in parliament(party seen suffering same problems LibDems had

in the UK after its coalition with the Conservatives) with move also blocking

the far-right AfD becoming the main opposition party. Merkel now has an uphill

struggle to agree a new coalition, including Greens. However, Eur/Usd did manage

to recover through the main part of Asia, touched $1.1937 before Europe entered

the market and sold back into the correction. Part of this sell off related to

strong sell interest in Eur/Gbp. Eur/Usd was pressed back to $1.1903 but buyers

emerged to cushion this initial move. Rate currently trades around $1.1910.

Support seen from above $1.1900 through to $1.1890.