The Euro is in for another roller coaster of a week with the final push in the French election with the second round of voting in just under two weeks. GBP EUR has slipped 1% since the first round on Sunday but is still holding firm and very close to the recent highs of last week. Those clients looking to buy Euros are still riding higher on the announcement last week of snap general election in the UK 8th June.
The risk for Euro buyers is that if Macron does win the election this will be very good news for the Euro. Clients buying Euros would be wise to get in touch well before the second round of voting 7th May and consider taking the risk of out of the market. Of course if Marine Le Pen did win the election then in my view the pound would rocket against the Euro.
The latest twist is that Marine Le Pen has stood down from the French National party in a bid to try and distance herself from a far right party. It’s make or break time now for Marine Le Pen who now needs to win those votes from the candidates who didn’t make it through to the second round and in particular Francois Fillon. There are clever politics at play and whilst Emanuel Macron is widely tipped to win this election Marine Le Pen could still have a slim chance of winning the Presidency.
Those clients looking to buy or sell Euros could see a hugely volatile period and there could be some very good opportunities that come out of this.
Data is light today so eyes look forward to the European Central Bank meeting tomorrow where any shift in policy could see the Euro change direction.
If you would like further information on Euro exchange rates or any of the major currencies and to discuss how we can assist then please feel free to contact me on 0044 1494 787 478 and ask one of the team for James. Alternatively, I can be emailed directly on firstname.lastname@example.org