Buying Euro rates and the French election (Joshua Privett)

Buying Euro exchange rates have been holding firm to their recent gains, rather than backtracking below the 1.15 mark as we have seen in the past when GBP/EUR crept into the high teens.

Discussion topics around the Euro will still stay squarely focussed on the French elections, particularly since the first round of voting begins in earnest the following week.

We saw similar almost chaotic movements in the run-up to the Dutch election last month. However, since the French election is designed to avoid the need for coalition, but in the Dutch system it is almost mandatory, the focus is much more on the vote result rather than the negotiations to follow.

Current polling suggests it is no longer a two-horse race, with challenges from the far left and from a recently disgraced politician.

Polls dont exactly have the most stellar reputation at the moment. However, they are the only way for markets to engage with the likely outcome of the election. So you will still see GBP/EUR rates of exchange react to the changing winds.

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