Euro could plummet if Le Pen claims French election victory

SINGAPORE (May 5): A victory for far-right candidate Marine Le Pen in France’s presidential election on May 7 could send the euro on a tailspin, UOB Global Economics & Markets Research warns in a flash note on Friday.

“We have made a comparison to Brexit, and think that EUR/USD plummeting by around 4.5% to 5% may be likely,” says UOB analyst Lee Sue Ann.

Lee is attaching a 20% probability to a Le Pen victory, with opinion polls putting Emmanuel Macron ahead in the presidential race.

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