Euro rebound in tatters as politics flares, this time in Germany
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THE euro's prospects of a rebound all but evaporated after political developments in Germany threatened to ripple through to the rest of the eurozone.
The currency headed for its biggest monthly losses since May after Angela Merkel, a longstanding force of stability in the region, announced on Monday that she will not be seeking re-election as party head in December or as German Chancellor in 2021. That took this year's drop to more than 5 per cent, confounding analyst expectations for a rally.
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