- The US Dollar has a volatile start of the week, though it is on the back foot early on Monday.
- Talk of the town is the surprise gain of the left coalition in France.
- The US Dollar index hovers around 105.00, testing a vital level of support.
The US Dollar (USD) whipsaws on Monday with a lot of technical gap-fills after market openings were very choppy on the outcome of the second round of elections in France. In a surprise move, the left-wing coalition New Popular Front of Jean-Luc Mélenchon won and claimed victory, while the current ruling French President Emmanuel Macron’s centrist Ensemble alliance came in second. This is a surprise blow to the far-right National Rally of Marine Le Pen, who had a landslide victory in the first election round last week. With no one holding an absolute majority and political agendas being very dispersed and barely having any common ground, a hung parliament…
