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Euro Hits 10 Day High After France Far Right Leads First Round Vote

The euro EUR reached a 10-day high on Sunday following the first round of France’s snap election, which saw the far-right National Rally (RN) leading. Marine Le Pen’s RN took the lead, though with a smaller share of the vote than some polls had predicted.

Market Impact

  • Euro Performance: The euro, down 0.8% since June 9, rose 0.3% to $1.0749, the highest since June 20, as Asia-Pacific trading began, per LSEG data.

Political Uncertainty

Uncertainty persists as the final result hinges on how parties align in the second round across 577 constituencies, leading to potential volatility.

Investor Concerns

Investors remain cautious due to potential big spending increases promised by both the far-right and the leftwing alliance, amidst France’s high budget deficit.

This market commentary and analysis has been prepared for ATFX by a third party for general information purposes only. Any view expressed does not constitute a personal recommendation or solicitation to buy or sell as it does not take into account your personal circumstances or objectives, and should therefore not be interpreted as financial, investment or other advice, or relied upon as such. You should therefore seek independent advice before making any investment decisions. This information has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication. Although we are not specifically constrained from dealing ahead of our recommendations we do not seek to take advantage of them before they are provided to our clients. We aim to establish and maintain and operate effective organisational and administrative arrangements with a view to taking all reasonable steps to prevent conflicts of interest from constituting or giving rise to a material risk of damage to the interests of our clients. The market data is derived from independent sources believed to be reliable, however we make no representation or warranty of its accuracy or completeness, and accept no responsibility for any consequence of its use by recipients. Reproduction of this information, in whole or in part, is not permitted.

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