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A man holds a French voter registration card and an envelopp with his ballot during the first round of 2017 French presidential election at a polling station on April 23, 2017 in Henin-Beaumont, northern France.
Investor breathed a sigh of relief on Sunday.
The euro spiked against the dollar on Sunday as early results from the French election showed Marine Le Pen and Emmanuel Macron advancing to a presidential runoff.
Reuters data showed the common currency jumped to $1.084 against the greenback before the market open from a Friday close of around $1.072.
Far-right candidate Le Pen and centrist Macron were largely expected to pull ahead in the first round of the French contest. The two had led most of the polls leading up to the election.
“I think that’s the important thing,” said Art Hogan, chief market strategist at Wunderlich Securities. “The market needed to get what it was expecting.”
“Some of the safety trade we’ve seen recently could be unwound in the next week,” he said.
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