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EUR traders – Commerzbank on the French election, Europe “appears gradually more fragile”

ICYMI, French President Macron called a snap election just in time for the opening of Asian FX in super-ultra-thin liquidity on Monday:

Monday morning open levels – indicative forex prices – 10 June 2024EU politics – French President Macron has called a snap election. EUR/USD a touch lower.Projections have centrist parties retaining majority in the European Union parliamentForexLive Asia-Pacific FX news wrap: EUR lower on EU politics

EUR/USD continued its dribble lower during Europe/UK/US trade but has managed some recviery. Movement has been small only though.

Commerzbank analysts on the events:

European unification “appears gradually more fragile” “The euro suffers when the question arises as to whether a politically created transnational currency can survive in the long term if the political framework conditions change” “So far, the rampant euro skepticism has not caused any significant damage to the euro. However, the risk that this will not remain the case increased yesterday. Only marginally, but to a visible extent”

EUR/USD update:

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

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