The euro weakened against the American currency on Tuesday to hit its lowest point in a year as the dollar continued its rally a week after Republican Donald Trump secured his return to the White House as the United States' next president.
The euro came under additional pressure due to political uncertainty in Germany, following a dispute between the government and Finance Minister Christian Lindner over the national budget, which prompted Berlin to call snap elections in February. Additionally, Germany's economic sentiment deteriorated in November, further weighing in on the euro.
At 5:46 pm CET, the euro lost 0.55% against the dollar, changing hands for 1.05970.
