The euro fell to a three-month low after Socialist Francois Hollande was elected president of France and as Greek voters flocked to anti-bailout parties, stoking concern austerity efforts in Europe may be derailed.
The 17-nation currency slid for a sixth day, its longest series of losses since September 2011, after German Chancellor Angela Merkel’s party had its worst election result in more than half a century in the state of Schleswig-Holstein. The yen and the dollar rose versus most of their major peers as Asian stocks extended a global rout, boosting demand for haven currencies.
“There are major concerns about the euro,” said Marito Ueda, senior managing director in Tokyo at FX Prime Corp. (8711), a currency margin company. “What’s common to both Greek and French voting is that people aren’t feeling good about austerity measures, which are the crux to a resolution of Europe’s debt problems.”
Alba supports Bahrain International Air Show
Alba, a leading national company in Bahrain and a top aluminium smelter in the world, is the gold sponsor for one of Bahrain’s most significant events – Bahrain International Air Show (BIAS) 2016 – t
Seera registers $2.3m net profit in first half
Seera Investment Bank, a Sharia-compliant investment bank headquartered in Bahrain, reported consolidated net income of $2.3 million for the six months ended June 30, compared with a loss of $29.5m f