Currencies: Euro hits 6-week high against dollar after French presidential debate

The euro gained against the dollar on Tuesday, with analysts attributing the rally to centrist candidate Emmanuel Macron performing well in France’s first televised presidential debate.

The shared currency EURUSD, +0.6704% was buying $1.0815 late Tuesday in New York, a level last seen about six weeks ago, according to FactSet data. That is up 0.6% from $1.0747 late Monday in New York.

Macron appears to have won the debate, and his improved prospects in the presidential race are providing support for the euro, said Richard Perry, a Hantec Markets analyst, in a note.

Markets have become “fairly sanguine over the risks of populism driving a Le Pen victory,” Perry said, referring to far-right candidate Marine Le Pen, who has called for France to abandon the euro.

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