(Bloomberg) — The euro fell to its lowest in a month after French President Emmanuel Macron called a legislative vote in the wake of suffering a crushing defeat in the European Parliament election.
The common currency dropped 0.4%, retreating alongside European equities and French bonds. BNP Paribas SA and Societe Generale SA tumbled more than 5%.
Gains for French far-right in the vote for European lawmakers prompted Macron to call the snap election as he seeks to halt the rise of his rival, Marine Le Pen. While German Chancellor Olaf Scholz also suffered humiliating losses, centrists parties across the bloc mostly held ground.
The euro was already on the backfoot heading into the week after suffering its biggest loss in almost two months on Friday as stronger-than-expected US jobs data lifted the dollar. Focus will now turn toward Federal Reserve policymakers updating their rates forecast on Wednesday, with traders being less…
