The euro has jumped to the highest level against the dollar since early November following the outcome of the first round of France’s presidential election on Sunday that led to pro-euro centrist candidate Emmanuel Macron capturing the most votes followed by Marine Le Pen who runs on a far right platform.
With 92 percent reporting, Macron gained 23.8 percent (8,363) to Le Pen’s 21.6 percent (7,571), according to Kantar Sofres.
On May 7th Macron and Le Pen will face off during the 2nd round of France’s presidential election.
Macron is a former French Minister of the Economy of En Marche! party who previously worked with French Prime Minister Francois Hollande, is pro-European Union, and was favored to win based on pre-election polls.
Le Pen is president of National Front whose father Jean-Marie Le Pen led the party from 1972-2011 and is known for his euroskepticism and hardline approach to immigration which his daughter Marine also espouses, although she officially expelled him from National Front in 2015 due to his anti-Semitic and racist views.
U.S. stock futures are pointing solidly to a higher open on Monday during the start of a week that will be jammed packed with corporate earnings including Amazon, Alphabet (Goog), Microsoft, and AT&T.
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