French presidential elections will affect currency market

Baku. 21 April. REPORT.AZ/ First round results of presidential election in France on April 23 will seriously affect global currency market.

Report informs referring to Goldman Sachs investment bank’s outlook, Euro may slump by 2% against its main rival US-dollar to 1.06 USD/EUR level if Marine Le Pen, who seeks Euro exit, passes to second round. In the opposite case Euro may gain ground by 5%, soaring to 1.13 USD/EUR.

Citigroup experts believe that national currencies of developing economies can seriously strengthen in case of victory of the main candidate to presidency Emmanuel Macron.

According to report prepared by bank’s strategic analyst Dirk Willer, if the elections result in victory of Marine Le Pen, national currencies of number of countries of Central and Eastern Europe, Middle East and Africa, including Turkey, Czech Republic, Russia and Poland will be negatively affected.