Euro surges post French elections’ first round results

Since the start of daily trading, the Euro has risen due to changes in French politics that have sparked conjecture about the potential that the European economy would escape the control of the country’s far-right faction.

From the previous daily close of 1.0711, the EUR/USD pair increased to 1.0725. The pair’s highest recorded level was 1.0776, while its lowest point for the current trading day was 1.0715.

The result of the first round of the early French elections revealed the possibility that the far-right French National Rally would not succeed in obtaining an absolute majority in Parliament, which is a source of relief in light of concerns about the possibility that the policies of this trend will hinder the progress of France’s economy.

The expectations that preceded the results of the first round indicated the possibility of reaching the “hanging parliament” scenario or the victory of the National Rally party led by Marine Le Pen.

The results of the first round of the French legislative elections, which were held on Sunday, June 6, 2024, showed the progress of the French extreme right, led by the National Rally Party.