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Euro gains against Swiss franc on French election result

The official French presidential election results place Emmanuel Macron (23.8%) and Marine Le Pen (21.5%) in first and second places in the first round of the French presidential race. The run off between these two will take place on 7 May 2017, when most forecasters expect Macron to win and become France’s next president.

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The result of Sunday’s vote has been received positively by the financial markets, as the risk of France leaving the EU or Euro has receded, with only one populist candidate now in the race.

According to Bloomberg, the CHF:EUR exchange rate is currently around 1.080. In the five working days prior to the vote it closed at between 1.069 and 1.070.

Of the six French départements bordering Switzerland, five pronounced Marine Le Pen, presidential candidate for the Front national, their favourite. They were the départements of Ain, Jura, Doubs, Territoire de Belfort and Haut Rhin. The other, Haute Savoie, favoured Francois Fillon.

 

Full story here
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