Although polling suggests the far-right leader would lose to Macron or even to Fillon, investors are mindful of surprise vote outcomes. "Everybody fears (a Le Pen victory) could have a tremendous impact on the common currency, as she's indicated that she wishes to exit from the euro," said Commerzbank currency strategist Esther Reichelt, in Frankfurt. But with Fillon in contention, polls suggest Le Pen would come either first or second in the first round and would then face Macron in the final run-off. "Markets are quite risk-negative this morning," said Adam Cole, global head of FX strategy at RBC Capital Markets in London. For Reuters Live Markets blog on European and UK stock markets see reuters://realtime/verb=Open/url=http://emea1.apps.cp.extranet.thomsonreuters.biz/cms/?pageId=livemarkets(Editing by Ed Osmond)
according to Former French Prime Minister Alain Juppe was seen as a viable, centrist alternative to his struggling peer Françios Fillon in the French Presidential Elections. Markets probably fantasized about center-right Juppe, but the news is quite good for another centrist: Emmanuel Macron. He lost the primaries in the center-right Les Republicans to Fillon, but since then, Fillon has been embroiled in scandal. The upcoming opinion polls will probably show a continuation of the recent trend of further support for Macron as Fillon insists on running despite no support. The candidate is consolidating his second place in the first round and is expected to beat Le Pen in the second round with a wider margin than Fillon would have.
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Euro falls as France's Juppe rules out presidential bid
Although polling suggests the far-right leader would lose to Macron or even to Fillon, investors are mindful of surprise vote outcomes. REUTERS/Andrea ComasLONDON The euro fell on Monday after former French prime minister Alain Juppe ruled out standing in the country's presidential elections, which investors saw as increasing the likelihood of a victory by anti-EU leader Marine Le Pen. The news sent the euro 0.4 percent lower to $1.0577 EUR=, down from a two-week high it touched earlier in the day. But with Fillon in contention, polls suggest Le Pen would come either first or second in the first round and would then face Macron in the final run-off. "Everybody fears (a Le Pen victory) could have a tremendous impact on the common currency, as she's indicated that she wishes to exit from the euro," said Commerzbank currency strategist Esther Reichelt, in Frankfurt.
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