The euro rose after the first round of France’s snap election, with the far-right party winning but by a smaller margin than expected.
Yen struggled against a weak dollar due to Japan’s revised first-quarter growth figures showing a larger shrinkage.
Dollar slightly fell against a basket of currencies amid U.S. inflation cooling and expectations of a Fed interest rate cut in September.
Sterling, Aussie, and New Zealand dollar saw minor gains against the dollar.
Yen’s decline attributed to stark interest rate differentials with the U.S. and concerns about Japan’s economy, prompting expectations of BoJ intervention.
Chinese yuan also weakened against the dollar due to interest rate differentials, with PMI data suggesting challenges for China’s economy.
Far-right parties in France have performed well in the first round of elections
National Rally, led by Marine Le Pen, is leading the polls
President Emmanuel Macron’s party has seen a decrease in support
The results reflect the growing popularity of far-right ideologies in France
Euro strengthened after France’s first-round vote
Yen facing challenges in the currency market
Far-right Rassemblement National and allies received over a third of the votes in the French elections’ first round
President Macron’s coalition ranked third with 20.7%, while the left-wing Nouveau Front Populaire alliance got 28.1% in the initial estimates
Macron urged voters to block the far right in the second round and to come together in a democratic and republican rally
Prime Minister Attal warned voters against giving any votes to the far right, emphasizing the risk of them winning an absolute majority
Left-wing parties called for candidates ranked third to withdraw to support higher-placed candidates to beat the far right in the second round
Les Républicains party did not give instructions to their voters for the second round, expressing concerns about far-left dominance and chaos under the far right
Outcome of the new legislature will depend on the results of the second round, with 577 districts to choose between two best-placed candidates
Macron called snap elections after RN’s strong showing in the European Parliament elections, causing political turmoil and uncertainty in France and Europe
Defiant Macron stood by his decision to call snap elections despite criticism, warning voters of the potential risks of a far-right or hard-left win
Far-Right Surge in France’s Snap Election
Far-right parties in France, particularly National Rally led by Marine Le Pen, have shown a strong performance in the first round of elections.
The rise of far-right ideologies in France is evident as the far-right party has gained significant support.
President Emmanuel Macron’s party has experienced a decrease in support, reflecting a shift in the political landscape towards far-right ideologies.
Macron and other political figures are urging voters to unite against the far right in the second round of elections to prevent a potential victory.
The outcome of the second round will determine the composition of the new legislature, with various parties strategizing to defeat the far right.
The euro rose after the first round of France’s snap election, with the far-right party winning but by a smaller margin than expected.
Yen struggled against a weak dollar due to Japan’s revised first-quarter growth figures showing a larger shrinkage.
Dollar slightly fell against a basket of currencies amid U.S. inflation cooling and expectations of a Fed interest rate cut in September.
Sterling, Aussie, and New Zealand dollar saw minor gains against the dollar.
Chinese yuan also weakened against the dollar due to interest rate differentials, with PMI data suggesting challenges for China’s economy.
Far-right parties in France have performed well in the first round of elections
National Rally, led by Marine Le Pen, is leading the polls
The results reflect the growing popularity of far-right ideologies in France
Macron urged voters to block the far right in the second round and to come together in a democratic and republican rally
Prime Minister Attal warned voters against giving any votes to the far right, emphasizing the risk of them winning an absolute majority
Les Républicains party did not give instructions to their voters for the second round, expressing concerns about far-left dominance and chaos under the far right
Outcome of the new legislature will depend on the results of the second round, with 577 districts to choose between two best-placed candidates
Macron called snap elections after RN’s strong showing in the European Parliament elections, causing political turmoil and uncertainty in France and Europe
Defiant Macron stood by his decision to call snap elections despite criticism, warning voters of the potential risks of a far-right or hard-left win