All the day’s economic and financial news, as political events continue to dominate the markets
This chart confirms that traders have been anxious about the French elections, and the prospect of a eurosceptic winner:
As Sunday’s 1st round of French election nears, one measure of euro volatility is well on track for its biggest weekly jump on record pic.twitter.com/As4mdjhyEZ
Tactical voting will probaly keep Marine Le Pen out of the Élysée Palace, argues Kit Nicholl, country risk analyst at IHS Global Insight:
In a scenario where Le Pen is pitted against Fillon, or more likely, Macron, voters from the moderate left and right are likely to unite in a so-called “Republican front”, voting tactically to keep the FN out of power.
A Le Pen victory is therefore unlikely but still remains possible, particularly as abstention rates will also play a big role.