The euro briefly sank to a new 11-year low against the dollar in early Asian trade Monday after anti-austerity party Syriza swept to victory in Greece’s general elections.
The single currency was trading at $1.1169 at about 0040 GMT after dipping to $1.1088 in Tokyo early morning trade, the lowest level since September 2003.
The dip comes after the euro fell to a fresh 11-year low of $1.1115 in New York on Friday, after the European Central Bank unveiled a vast bond-buying programme in a bid to kickstart the eurozone economy.
The common European currency also fell to 131.68 yen in Tokyo against 132.03 yen in US trade.
Leftist party Syriza had a historic victory in Greece’s election Sunday, becoming the first anti-austerity party in power in Europe.
The victory posed a new challenge to the debt-hit country’s international bailout programme and a Syriza win has ignited fears about the possibility of Greece’s exit from the eurozone.