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Euro touches 6-month high after decisive French vote

May 08, 2017, 7:54 AM EDT
(Source: Metropolico.org/flickr)
(Source: Metropolico.org/flickr)

The euro hit its six-month high against the dollar on Monday as centrist Emmanuel Macron’s win in French presidential election brought relief to investors, who had been apprehensive of another “populist upheaval” in Europe following the Brexit vote and the election in the U.S.

The euro surged to $1.1024 before dipping to $1.0984 while France’s main stock market index struck a new nine and a half-year high, reports The Guardian. According to analysts, the market outcome is a “fairly muted reaction,” as majority of the investors were expecting a Macron win.

The pro-E.U. Macron has proposed a slew of policy measures, including a cut down on corporate tax and reforming the labor market, to boost business activity, writes the BBC.

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