The first round of the French Presidential election is less than two weeks away, and recent polls have shown the race broaden into a four-horse affair.
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News that we now have four runners with a shot of taking the prize of the French Presidency in just one month’s time has seen the Euro continue to edge lower on global foreign exchange markets.
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The Euro continues falling against the Dollar as we enter a new week of trading, with the exchange rate poised to move down towards 1.0500.
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If Marine Le Pen wins the French Presidential election it will cause a lot of uncertainty about the future of the European project and the Euro currency, but what about the impact on EUR/USD?
Read more … →EUR/USD has been consolidating over the last few days after the sharp move lower from the March high, overall bears remain in control.
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The latest televised debate in the French presidential election campaign has reinforced the view that Marine Le Pen’s chances of winning are fading and foreign exchange markets are taking note.
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The recent recovery rally in EUR/USD is really just an opportunity to sell the pair again, says BNP Paribas’ Daniel Katzive, who continues to be bullish the Dollar.
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