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He was taken in by police at the weekend after being accused of the attempted sexual assault of a hotel maid in New York.
On the back of this news, the euro dropped to a seven-week low of $1.4048 on Monday (May 16th), reported Reuters.
Strauss-Kahn, who had been widely tipped to challenge Nicolas Sarkozy in next year's French presidency elections, was supposed to meet with German chancellor Angela Merkel on Sunday, but instead spent that time in talks with police.
He had also planned to join finance ministers on Monday to discuss the debt problem in the euro zone and Greece's situation in particular.
The added uncertainty that his absence prompted caused the forex markets to react negatively.
Posted by Greg Secker
