LONDON, June 20 —The euro rose today despite French President Emmanuel Macron losing an absolute majority in the country's parliamentary election, as the dollar retreated against its major peers after hitting a 20-year peak last week.
"Even though a Macron presidency and majority in Parliament would be very positive for euro zone cooperation and so forth, it's more for the long term, it's not something that affects markets here and now," said Ingvild Borgen Gjerde, FX analyst at DNB Markets. The dollar edged 0.2 per cent lower to ¥134.715 , after hitting ¥135.44 in Asia-Pacific trading hours, close to Wednesday's peak of 135.60, the highest since October 1998.
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