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Macron Marches to Victory

May 8, 2017 3:11 pm Published by

Pro-Euro politician, Emmanuel Macron is set to become the new president of France.

Macron, who is a former economy minister, won by 66% against opponent Marine Le Pen. Despite his clear win, Le Pen’s support was a historic high for the French far right.  With almost 11 million votes, the party has now secured a place as an opposition force in France.

Next Sunday, Macron will take over as the youngest president in French history. Current president, Francois Holland, who actually once appointed Macron as economy minister, said:

“His large victory confirms that a very great majority of our citizens wanted to unite around the values of the Republic and show their attachment to the European Union and show France is open to the world”.

 

After the United Kingdom’s decision to leave the EU last year and the election of US president Donald Trump,  the campaign for the new president was the latest election with the potential to shake up the establishment.  The news of Macron’s victory was welcomed by Brussels and Berlin, who celebrated the victory against Le Pen’s anti-EU campaign.

There were no major movements from the Euro rate as you can see from our Currency Chart above. The GBP has gained strength consistently and steadily against the Euro for the last two months and is expected to carry on trending upwards.

If you are looking to sell Euros and buy Pounds, you are currently in a favourable position. When you look at the currency chart for the last 12 months below, you can see that since the ‘Brexit’ result the Pound has dropped in value against the Euro:

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This post was written by Kayleigh Driscoll

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