XE Market Analysis: Europe – Apr 24, 2017

The euro has surged on news that pro-EU Macron won the biggest slice of the vote in the French presidential election on Sunday, and is now favourite to beat Le Pen by a wide margin in the second-round runoff election on May 7. Although of the highs, EUR-USD is still showing a 1.2% gain on the day and EUR-JPY a 2.4% advance. Stock markets in Asia rallied, and the risk-on theme drove the yen to underperform, in accordance with its usual inverse correlative relationship with global stock market direction. USD-JPY clocked a 13-day high at 110.63, up from Friday’s closing…

Source: XE news feed
XE Market Analysis: Europe – Apr 24, 2017