The euro touched a two-week high during Asian hours today, after the first round of France 's shock snap election put the far-right in pole position, but offered little clarity on the final outcome, leaving investors bracing for further volatility.
"Le Pen had a slightly smaller margin than some of the polls had pointed to, which may have helped the euro a little bit higher on the open," she added. Shares in three heavyweight lenders - Societe Generale, BNP Paribas and Credit Agricole CAGR.PA - have dropped between 9% and 14%, leading losses of nearly 7% in the Paris CAC 40 stock index.Markets had calmed after the initial turmoil that followed the election announcement, as the RN party toned down some of its more radical plans and said it would respect EU's fiscal rules that require France to cut its deficit, but they took another hit on Friday.
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