The euro briefly fell as low as $1.1088 - the lowest level against the dollar in more than 11 years.
Traders says there is uncertainty about what happens next in Greece, as Syriza leader Alexis Tsipras has pledged to renegotiate Greece's debts.
He has also vowed to reverse many of the austerity measures adopted by Greece in return for bailout deals.
"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).
Read more: BBC News - Euro hits 11-year low after Syriza victory in Greece
Traders says there is uncertainty about what happens next in Greece, as Syriza leader Alexis Tsipras has pledged to renegotiate Greece's debts.
He has also vowed to reverse many of the austerity measures adopted by Greece in return for bailout deals.
"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).
Read more: BBC News - Euro hits 11-year low after Syriza victory in Greece
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