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Euro Reaches One-Month High as Dutch Vote Shows Liberal Win

  • Shared currency extends gains made in wake of Fed decision
  • Outcome is worse than expected for Freedom Party’s Wilders
Bloomberg business news

Dutch Liberals Deliver Clear Win Over Populist Movement

Updated on

The euro traded just off the highest level in more than a month after an exit poll showed Dutch Prime Minister Mark Rutte’s Liberals easily beat the anti-Islam Freedom Party of Geert Wilders in Wednesday’s election, allaying concerns about the spread of populism in the currency bloc.

The shared currency had the biggest advance against the dollar since June on Wednesday, extending gains made after the Federal Reserve left its projections for interest-rate increases unchanged. The Liberal Party is projected to take 33 seats in the 150-seat lower house of parliament compared with 20 seats for the Freedom Party, with 93 percent of municipalities counted by the early hours of Thursday.