Currencies: Euro continues Friday’s slide below $1.09

(CercleFinance.com) -The euro fell by -0.4%, i.e. less violently than on Friday (-0.8% after the very “robust” US employment figures): any attempt at a rebound in the euro had been doomed to failure since 8 p.m. Sunday.

The political situation in Europe in general and the dissolution in France in particular completely overshadowed the main topic of the week, which was supposed to be the Federal Reserve meeting, scheduled for Wednesday.
French President Emmanuel Macron has decided to dissolve the National Assembly, a first since 1997, and early elections will be held on June 30 and July 7: a 4-week period of questioning regarding the evolution of the French economic-political panorama.

In a phase of political uncertainty, investors traditionally take refuge in the greenback: the $-Index is up +0.3% at 105.20 this evening, and does not finish the day at its highest since it had climbed as high as 105.4 this morning.
The Dollar only gained 0.05% against the Swiss Franc, +0.15% against the Pound and +0.2% against the British Pound.
The Canadian Dollar was the strongest against all currencies… and the Euro, logically the weakest (but nothing spectacular, as the rise in rates slowed its decline).

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