Dollar eases against euro as European political jitters subside
euro on Monday, as the common currency recovered from the more than one-month lows hit last week driven by political turmoil in Europe.
The euro was up 0.1% to $1.0718 on Monday, rebounding from the six-week low of $1.066775 touched last week following news of a snap parliamentary election in France.
European markets have been under pressure after President Emmanuel Macron called for a snap election following a trouncing of his ruling centrist party by Marine Le Pen's eurosceptic National Rally in the European parliament elections.
Investors have been contemplating the risk of a budget crisis at the heart of the euro area, as far-right and leftist parties gain momentum ahead of France's snap parliamentary election, pressuring Macron's centrist administration
Le Pen sought to allay some of those fears over the weekend, saying she would not seek Macron's resignation and that she is «respectful of institutions,» in an interview with Le Figaro.
Even after the French financial markets endured a brutal sell-off late last week, European Central Bank policymakers have no plans to discuss emergency purchases of French bonds, five sources told Reuters.
«As French markets have begun to stabilize a bit since last week the euro has responded with a slight touch of recovery,» Helen Given, FX trader at Monex USA in Washington, said.
Given, however, said that the trend remained in favor of the dollar.
«If U.S. retail sales come in weaker than expected tomorrow, as most data for the U.S. has been in the last few sessions, we
