Today the Euro currency is trading at less exciting levels while the Swiss franc and Swedish crown are preferred by traders due to the uncertainty over French choice and the high probability that more restrictions will be imposed on Russia.
The market is guessing that there is a possibility that 'right-wing' political party candidate Marine Le Pen will kill President Emmanuel Macron in this month's general election. This speculation has led to sudden losses for the blue chip index and royal bonds.
Indecision about the French election choice decision has prompted traders in euros to slowly increase their buying and selling options around $1.07-$1.09, according to data from Refinitiv.
Compared to the US dollar, the euro was not much changed, trading down 0.01% to a trading level of 1.0966. The euro hit a one-month high of $1.1185 just days earlier amid growing confidence in the end of the Ukraine conflict.
In addition, the euro currency was impressed by the uncertainty about the European economic growth which is expected to be helped by the Russo-Ukrainian conflict as well as high inflation. According to, Simon Harvey, head of FX analysis at Monex Europe, “The sentiment around the currency is getting worse day by day”.
The euro's biggest losses on Tuesday were against the Swedish crown and Swiss franc, dropping 0.4% and 0.2%, respectively.
The United States and European countries pledged Monday to punish Russia more severely for allegations that Russia has killed ordinary people. However, this is denied by Russia. New batches may include batches of up to billions of dollars of energy or oil that Europe imports from Russia.
The US dollar index, which measures the US dollar against six major currencies, was trading at 0.20% at 99,155.
