ForexLive Asia-Pacific FX news wrap: EUR/USD gain on German election, broader USD weakness ...Middle East

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EUR/USD opened higher in early Asia, buoyed by German election results, though gains stalled above 1.0520, near a one-month high.

Key Takeaways from Germany’s Election Impact:

CDU/CSU leads with 28.7% of the vote, while far-right AfD secured 19.8% (ZDF projection).Coalition talks begin, with fiscal reform prospects in focus.Market-friendly coalitions remain possible, including CDU-SPD-Greens.AfD underperformed expectations, easing investor concerns.

While FX markets adjust to post-election uncertainties, investors are closely watching coalition developments and potential policy shifts in Germany.

While this political uncertainty lingers, the euro outpaced most FX initially, before broader USD weakness lifted other currencies:

CHF surged to a two-month high.AUD, NZD, GBP, and CAD all gained.Swedish Crown touched a four-month high.SGD hit its strongest level since early November.KRW reached its highest since December 6.CNH (offshore yuan) climbed to late-November levels.USD/JPY dipped below 149.00, its strongest level since December 3, before stabilizing above.

Other Market Moves:

Oil prices remained sluggish, with Kurdistan resuming exports weighing on sentiment.US equity futures (ES, NQ) advanced, reflecting broader risk appetite. This article was written by Eamonn Sheridan at www.forexlive.com.

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