Deutsche Bank: French election has minimal impact on the euro

On July 8, the French left-wing party coalition "New Popular Front" unexpectedly won a majority in the second round of parliamentary elections held on Sunday, but failed to obtain an absolute majority, and the euro reacted little subsequently. Commerzbank forex analyst Ulrich Leuchtmann said in a note: "The election results have largely nothing to do with the current euro valuation, as the impact on the euro exchange rate back in the first round of voting is minimal at best." He said that the impact of the election is unlikely to affect monetary policy, so it is not directly related to the euro.