Euro hits six-week high versus dollar on Macron
The joint currency of 19 nations in Europe continued to surge against main peers on Tuesday, after respondents in French polls said centrist presidential candidate Emmanuel Macron yesterday prevailed in the first debate with four rivals. Market watchers are particularly tracking the chances in his potential runoff with right-wing National Front's leader Marine Le Pen.
The euro added 0.5% to buy $1.07934, after reaching $1.0805 for the first time since February 2. The currency of the monetary union climbed 0.06% to £0.86953 and strengthened 0.23% to 1.07505 francs, compared to the daily high of 1.07565 francs, a level unseen since March 13 (all 10:27 am CET).
The yield on French 10-year debt ticked marginally higher to 1.121% at 10:23 am CET, shrinking the spread against benchmark German bonds of the same maturity. The so-called bunds yielded 0.464% or 2.7 basis points up for the day. At the same time, the yield on British 10-year gilt was 2.8 points up at 1.262%.