The first round of French parliamentary elections is set to trigger high uncertainty. Soothing messages from the far right and far left leave the Euro vulnerable to falls. Calm may return only after the second round of voting on July 7. Fears over a populist policy that would crash Europe's second-largest economy have receded, but that could be disrupted as markets open in Asia on Monday. EUR/USD may suffer.
French complex voting system adds to uncertainty Voting is held on Sunday, and polls close at 20:00 local time / 18:00 GMT. The system is complex, with an outright victory in any of France's 577 seats given only to those winning 50% of the vote. If no candidate reaches this goal, the second round is held between all candidates who receive 12.5% or more of all those registered to vote. That results in two, three or even four-headed run-offs.
Source: Financial Digest (financialdigest.net)
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