Reported 12 months ago
The euro strengthened after France's snap election, with the far-right party winning the first round by a smaller margin than expected. Meanwhile, the yen struggled to break away from a 38-year low. Analysts attributed the rise in the euro to lessened fears of expansionary fiscal policies due to the far-right's performance. The dollar dipped slightly against a basket of currencies, influenced by U.S. inflation data and the expectation of Fed interest rate cuts. The New Zealand dollar and sterling also saw movements, while the Japanese yen faced pressure from interest rate differentials. The Chinese yuan was marginally lower in the offshore market, despite positive factory activity among smaller manufacturers.
Source: YAHOO