EURUSD spot traded lower by 0.61 percent (EURUSD) and 0.90 percent (EURINR) in the last week as markets now eye the Parliamentary Elections in the France after the Presidency. The legislative elections on June 11 and 18 will now decide whether Macron’s ‘Republic on the Move’ party – barely a year old and still without seats in parliament – will win enough seats to let him govern effectively for the next five years.
The Vice-president of ECB commented that maintaining its ultra-loose monetary policy for longer is the safer way for the ECB to avoid an economic relapse thereby hinting that a change in policy was unlikely until the autumn. Today, EURINR spot is likely to trade lower.
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