Euro drops on German finance minister news

London

THE euro slipped against a stronger dollar on Wednesday, on disappointment over reports that the leader of Germany's Social Democrats (SPD), Martin Schulz, would not be taking over as finance minister for Europe's biggest economy.

German Chancellor Angela Merkel's conservatives and the SPD on Wednesday agreed to a coalition deal, taking the country closer to a new government after months of uncertainty that have unnerved allies and investors and investors alike.