6 minutes agoEuro weakens after European election results
Periskopi(2 years ago)
(2 years ago)The European Parliament elections were followed by the weakening of the euro against the US dollar. Monday morning, one euro was less than $1.08, while during most of the last week it was close to $1.09. Analysts say the movements do not look big, but reflect the way people feel [...]
Monday morning, one euro was less than $1.08, while during most of the last week it was close to $1.09.
Analysts say the movements do not look big, but reflect the way people feel on economic markets.
“The results of the elections in the EU showed increased support for right-wing parties, which were also expected but the surprise element is that [the president of France, Emmanuel] Macron reacted by calling early elections. This makes the market more nervous”, Lee Hardman, currency analyst at the financial services company MUPG, told the Reuters agency.
Similar moves were seen in stock exchanges, as large shares in all major European markets marked declines.
The European Parliament elections were held from June 6th to 9th.
The far-right parties marked increases in several European states, including France and Germany.
In France, President Emmanuel Macron announced early elections after his party suffered great losses to the far-right National Front party. / REL
