Reported about 1 year ago
The euro weakened as projections for France's election suggested a hung parliament due to a strong showing by left-wing parties, causing uncertainty over the country's fiscal future. The dollar remained under pressure following disappointing U.S. payrolls data, increasing expectations of an interest rate cut by the Federal Reserve in September. Meanwhile, the yen strengthened for a third consecutive day, and sterling rose after the Labour Party's election victory in the UK. Market reactions were influenced by the unexpected election results in France, with the euro declining and the dollar flat. Traders are now anticipating potential market volatility as political uncertainties loom in the region.
Source: YAHOO