***Euro and Kiwi were the main outliers.......>

FOREX: ***Euro and Kiwi were the main outliers against the dollar, both taking a

hit as election results did not quite go as planned for the ruling parties.

Despite Merkel winning her fourth term, the overall election result was seen as

a poor outcome, with the biggest upset coming from the far-right AfD party, who

are forecast to take 13% of the vote. Many now see a lengthy coalition building

process with Merkel having to negotiate with at least two other parties. While,

over in New Zealand, local elections failed to produce a clear winner for either

of the major parties, there now follows a lengthy period of coalition

negotiations with NZ First's leader Winston Peters acting as kingmaker. Euro

gapped lower from Friday's $1.1951 NY close to open in Asia at $1.1915, the pair

then edged lower to $1.1897 before recovering to $1.1935. Kiwi-dollar trekked

lower from $0.7344 to $0.7269 and remained on the defensive throughout the

session. Dollar-yen rose from Y112.00 to Y112.53, reports of Japan's Abe seeking

a Y2 trillion stimulus package undermining the yen. Meanwhile, Cable rose from

$1.3470 to $1.3534, the pound underpinned by cross demand, predominantly against

the Euro.