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Euro Fell Against the Dollar in the Post-French Election

May, 09 2017
watermark Economic news

The common European currency tumbled on Monday from its highs due to the triumph of centrist wing Emmanuel Macron. As investor received an estimate of 3% of profit after Macron won a couple of weeks ago.

The loss of the populist candidate, Marine Le Pen ended the worries of investors about the radical change subsequent to Brexit and Trump’s election last year in case that Le Pen won.

Based on opinion polls, Macron had a consistent point which is roughly 20 percent and his triumph on Sunday was a great surprise.

During the early trades of Asia, the euro surge reaching $1.1024 which is its highest rate since November 9. It further increased on its one-year high touching 124.58 yen versus its Japanese peer while hitting a five-month high jumping to 1.0886 against the Swiss franc.

However, amid morning session of Europe, it declined by 0.4 percent to $1.0953 vs the greens and 0.6 percent to 123.26 against the yen.

The political risk linked with Le Pen were already removed, the risk involves the pledge that France will be taken out from the European region. As the risk was eliminated, the focus turned to the economic fundamentals along with the monetary policy normalization of EU and U.S.

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Foreign exchange is highly speculative and complex in nature, and may not be suitable for all investors. Forex trading may result in a substantial gain or loss. Therefore, it is not advisable to invest money you cannot afford to lose. Before using the services offered by ForexMart, please acknowledge the risks associated with forex trading. Seek independent financial advice if necessary. Please note that neither past performance nor forecasts are reliable indicators of future results.