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May 8, 2017

Fortrade, Post French Election: Financial Market still trembles with High Volatility

French Election: Macron’s Victory Sends Euro To 6-Month High.

Euro hits six-month high as Macron wins presidency

EUR/USD opens higher on Monday, just below 1.098 (+0.25%), after centrist Emmanuel Macron’s victory over the far-right Marine Le Pen in France’s presidential election with a landslide win of over 65%.

The currency pair had been on a rising trend in the days ahead of the election, and yesterday rose as high as 1.102, its highest since November 9, 2016. It also jumped to a one-year high of 124.5 against Japanese yen (EUR/JPY), and a five-month high of 1.088 vs. the Swiss franc (EUR/CHF).

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