On Monday, press announced that Emmanuel Macron won French presidential election over his opponent, Marine Le Pen. This outcome has been interpreted as a win for the European Union itself that triumphed over a far-right direction. As a consequence, the value of the euro rose to $1.1024 which is its highest position against the dollar since six months ago.
Recent French Presidential Election Reinforced the Importance of EU
On Monday, analysts received their much-awaited answer in the French battle between EU supporter and rival. The worldwide economy changed dramatically after Emmanuel Macron recorded a sharp victory against Marine Le Pen during this year’s French presidential election. As a consequence, euro received a substantial boost in value overnight. The currency jumped to $1.1024, its highest point since November last year. For a short span, euro also succeeded to sustain its greatest domination over Japan’s yen in a year.
A fund manager at M&G Investments, Steven Andrew, stated that the French event was the most ardent political battle in recent years. Therefore, its outcome was bound to have massive ramifications in different domains at a worldwide level. Nation’s choice of Emmanuel Macron was in alignment with opinion polls. Moreover, Steven Andrew claimed that this French presidential election is a disruption from anti-EU direction that seemed to describe the modern European politics.
Emmanuel Macron’s Victory Erased Market Uncertainty
Emmanuel Macron’s opponent, Marine Le Pen, conducted her presidential campaign in the spirit of recent changes around the world. She based her strategies mostly on claims that French people are ready to follow the same populist direction that both Britain and America chose. However, this statement proved to be in contradiction with French values.
Analysts are confident that markets are going to reflect the positive results for a long period. Until now, investors acted precariously in their trading decisions due to an uncertainty that French presidential election has just removed from their minds.
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