Will Sterling’s rebound against the Euro continue, and what factors could effect the GBPEUR rate this week? (Joseph Wright)

The first round win for Emmanuel Macron in the French Presidential Election this past weekend bolstered the Euro, as Macron is the market favoured candidate.

The Euro gained across the board as a result of Macrons win, as there were fears that stanch Eurosceptic, Marine Le Pen could perform better than polls had expected. Monday was the Euros best performance against the Pound since January, with the Pound losing a couple of cents from the 2017 highs the GBP/EUR pair hit late last week.

Although its still likely that Macron will win the 2nd round of voting and become President as the losing candidates move towards Macron, the Euro has softened over the past 24 hours as markets are exercising caution ahead of today’s European Central Bank’s monetary policy meeting.

Whats said during today’s ECB meeting could result in further movements for the GBP to EUR exchange rate, and from a more medium term standpoint I also think that the UK’s general election this June is likely to cause movements between the GBP/EUR pair. Moving forward I think the Pound could climb if the conservatives remain favorites due to the certainty this would offer the markets, but should the polls swing we could also see Sterling’s fortunes fall as well.

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