Dutch election news: Euro set to fall amid election result chaos

Monday, March 13, 2017
By Paul Martin

THE euro could fall this week as the outcome of the March 15th Dutch election threatens to cast more doubts over the future of the EU.

Mon, Mar 13, 2017

Although last week’s European Central Bank (EBC) meeting gave the euro a boost, uncertainty about the next Prime Minister of the Netherlands has unsettled the currency.

The EUR/GBP exchange rate is sliding from an 8-week high to trend around 0.873, with GBP/EUR returning to 1.14. However, with the US dollar coming under pressure of its own, the EUR/USD exchange rate is still around a three-and-a-half week high of 1.067.

Recently the euro was able to hit multi-week highs against the pound and US dollar as investors judged that the odds of an election victory for Dutch populists had fallen.

With only two days to go until Dutch voters head to the polls, however, markets are getting jittery.

Much of the election coverage has revolved around Geert Wilders, leader of the Party of Freedom, who has seen his popularity rise in recent months thanks to a growing wave of nationalism and anti-Islam sentiment across the Netherlands.

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