XE Market Analysis: North America – Apr 24, 2017

The euro 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 runoff election on May 7. Although off the highs, EUR-USD was still showing a 1.2% gain on the day heading into the New York open, and EUR-JPY a 2.2% advance. EUR-JPY rallied to a four-week high at 120.36, well up on Friday’s closing levels just under 117.00. We expect the euro to establish generally higher trading ranges, looking for EUR-USD to recover above 1.1000.

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