Euro eases as far-right erodes Merkel support

London

THE euro snapped a two-day rising streak on Monday after a surge in support for the far-right in elections in Germany prompted investors to lock in gains in one of the most profitable currency trades of the year.

Though the result meant Angela Merkel secured a fourth term as chancellor, support for her conservatives unexpectedly slumped to its lowest since 1949 and the Social Democrat, partners in the outgoing coalition, said they would go into opposition. "Markets don't like uncertainty and the German election results have injected a healthy dose of (that)," said Richard Falkenhall, a strategist at SEB in Stockholm.