Germany faces its second change of leader in less than four years after the head of the center-right opposition won Sunday’s election.

An election win for Germany's conservatives has eased concerns of political gridlock in Europe's biggest economy, though it failed to lift uncertainty around whether a new government can deliver fiscal reforms that would boost sluggish growth.

The dollar index (DXY00) on Monday ended the day little changed. The dollar was undercut by Monday’s -4 bp decline in the 10-year T-note yield. Also, the euro saw support from Sunday’s German election results.