Euro hits 11-year low after Syriza victory in Greece
The euro has fallen sharply against the dollar after the anti-austerity Syriza party won the Greek general election.
The euro fell as low as $1.1098 - the lowest level against the dollar in more than 11 years.
Syriza leader Alexis Tsipras has pledged to renegotiate Greece's debt with international creditors.
He has also vowed to reverse many of the austerity measures adopted by Greece since a series of bailouts begun in 2010.
"The troika for Greece is the thing of the past," he said after the election result, referring to the country's biggest international lenders - the European Union, International Monetary Fund (IMF) and European Central Bank (ECB).
Greece's current bailout programme ends in February, and economists say a short term deal will be negotiated, but difficult talks lie ahead.
"There is a danger of a prolonged stand-off with the Troika as Syriza attempts to negotiate some form of official debt restructuring while not reneging on its promises to voters to cut taxes, raise government spending and increase the minimum wage," said Jonathan Loynes, chief european economist at Capital Economics in a research note.
The euro last traded at $1.1132, down about 0.8% from US trade on Friday.
The euro has fallen sharply against the dollar after the anti-austerity Syriza party won the Greek general election.
The euro fell as low as $1.1098 - the lowest level against the dollar in more than 11 years.
Syriza leader Alexis Tsipras has pledged to renegotiate Greece's debt with international creditors.
He has also vowed to reverse many of the austerity measures adopted by Greece since a series of bailouts begun in 2010.
"The troika for Greece is the thing of the past," he said after the election result, referring to the country's biggest international lenders - the European Union, International Monetary Fund (IMF) and European Central Bank (ECB).
Greece's current bailout programme ends in February, and economists say a short term deal will be negotiated, but difficult talks lie ahead.
"There is a danger of a prolonged stand-off with the Troika as Syriza attempts to negotiate some form of official debt restructuring while not reneging on its promises to voters to cut taxes, raise government spending and increase the minimum wage," said Jonathan Loynes, chief european economist at Capital Economics in a research note.
The euro last traded at $1.1132, down about 0.8% from US trade on Friday.
