LONDON (AP) - For months, the euro has been strengthening as fears over the rise in populism in Europe abated. Now, following elections in Germany and Austria, the currency is back under pressure.
On Monday, it's down a further 0.3 percent at $1.1785. While that decline is modest, it comes on top of recent losses - just last month the euro was above the $1.20 mark for the first time in two years.
One of the reasons it's been retreating relates to the electoral success of populist forces. That was evident in Sunday's Austrian election, which saw the right-wing Freedom Party come second with 27.4 percent of the vote - enough to possibly become part of a government led by the People's Party.