Currency News: Euro Getting Stronger After First Round of Election
Currency News
Yesterday, the French election took place. In its latest currency news, I Know First’s prediction about the ballot was right. The second round will be played between Emmanuel Macron and Marine Le Pen. So what will happen to the Euro?
After the results of the election, most of the market were reassured by the presence of Emmanuel Macron progressing to the second round. The former banker may have no previous political experience. However, he is known for his expertise in the economy. Thus, this could contribute to the Paris Stock Exchange favorable direction.
The Euro stands against the Dollar, but also against the yen. This Monday morning, the Paris Stock Exchange was increasing by 4%. Emmanuel Macron’s likelihood of a “Frexit” -the exit of France from the Euro Zone may be a possibility. In addition, polls play in favor of the Chief of the French movement “En Marche”.
Therefore, around 8 am (GMT) this morning, the Euro was worth 1.0866 dollar against 1.0726 dollar Friday night. The Euro was also standing up against the yen, with 119.75 yens for one euro against 117.07 yens on Friday night.
The market expects Emmanuel Macron to win the elections. However, the elections are not over and investors are still attentive to the results of the event; knowing than in two weeks, anything could happen.
