MUFG expects the euro to slide further into the French election

French President Emmanuel Macron called an election back on Sunday June 9.

Adam on the call:

• Macron’s gamble is looking like a disaster as new poll released

Leader of the far-right National Rally Marine Le Pen has offered an olive branch:

• says she won’t seek Macron’s resignation if far right wins snap election

Le Pen has helped steady the euro, with EUR/USD above 1.0700 again.

But, nerves remain. MUFG with the pith warning:

• “Overall, the developments do not change our view that the euro could weaken further ahead of the elections in France”

EUR/USD update since the NFP data back on June 7, just prior to Macron calling the election on the 9th:

This article was written by Eamonn Sheridan at www.forexlive.com.