Weaker Euro, stronger Bitcoin

The collapsed negotiations to form a Jamaican coalition of the Union, the FDP and the Greens initially added to the euro on Monday. The soaring of the crypto currency Bitcoin, however, continues.

FrankfurtThe end of the Jamaican exploratory talks about a new government in Germany put the euro under pressure on Monday. In the late morning, the common currency cost $ 1,1789 - less than before the demise of the FDP. The European Central Bank (ECB) had set the reference rate on Friday at $ 1.1795.

The movements of the euro course are partly significant, but not dramatic, said Commerzbank analyst Ulrich Leuchtmann. "How it goes on politically in Berlin, it is difficult to judge this morning. However, that is currently not the topic of the foreign exchange market. "More decisive are the development of the economy and the upcoming reduction of ECB money injections.

Late on Sunday evening, the FDP had said goodbye to the exploratory talks with Union and Greens. The week-long efforts for a conservative left-liberal coalition seem to have failed. The political situation in the most important economic country in the Eurozone has thus become confusing. Both Germany and the euro area had recently grown robustly, which had spurred the euro.

The soaring Bitcoin meanwhile continues: The crypto currency climbed on Monday temporary by more than five percent - to a record high of $ 8099.99. The prospect of an introduction of a Bitcoin futures in the US keeps investors amused, said Timo Emden, Germany boss of the on-line broker DailyFX. This puts the brand of $ 10,000 in the sights.