empty
 
 

2017.04.2423:07:00UTC+00Euro Pauses After Rally from Five-Month Peak

The euro eased in Asian trading, roughly 24 hours after notching its highest level in over five months following the first round of the French election. Markets have priced in an Emmanuel Macron presidency, with the centrist candidate seen as a better conclusion for the euro compared to far-right leader Marine Le Pen.

The common currency eased 0.1 percent to $1.0858, having closed 1.3 percent higher the previous day. The euro is likely to show resilience given the low probability of Le Pen winning the second round of vote, according to Satoshi Okagawa, senior global markets analyst at Sumitomo Mitsui Banking Corporation in Singapore.

The Japanese yen edged down 0.1 percent at ¥109.92 a dollar, following a 0.6 percent tumble the day earlier. The yen was the worst-performing major currency versus the euro on Monday as the result of the French vote left investors with reduced appetite for safe-haven assets.

The dollar index was marginally higher today at 99.135.

The result of the French voted also drove movement in the eurozone bond market. The yield on the French government's 10-year bond fell 11 basis points to 0.82 percent, as Italian, German and Spanish yields also dropped.

  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $1000 more!
    In April we raffle $1000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS


Can't speak right now?
Ask your question in the chat.
Widget callback