EURUSD Tumbles As Le Pen Support Jumps

Given the collapse of European VIX to record lows, one could be forgiven for thinking that there’s nothing to worry about. However, a one point jump in first-round support for French far-right presidential candidate Marine Le Pen has sparked a notable drop in EURUSD this morning.

#presitrack 17/03
MLP 28% (+1)
EM 25% (=)
FF 20% (+1)
BH 12% (-1)
JLM 11% (-1)
@LesEchos@ORPI_France@radioclassique https://t.co/BSF2m8vxkw pic.twitter.com/icAEaopK7I

— OpinionWay (@opinionway) March 17, 2017

European FX investors look anything but comfortable…

Overall however, according to the polls, Le Pen is unlikely to win…

But then again – Brexit and Trump proved that means nothing.