French election result – looks like a hung parlimanet

Read full post at forexlive.com

The
French
left-wing
alliance
is
projected
to
win
172
to
192
seats.
This
is
well
short
of
a
majority
but
is
ahead
of
Marine
Le
Pen’s
far-right
National
Rally,
looking
at
coming
third
with
132
to
152
seats.

President
Macron’s
centrist
party,
Ensemble,
will
win
150
to
170
seats.

None
of
these
three
has
a
majority.
It
appears
to
be
unlikely
that
Le
Pen’s
National
Rally
will
form
a
governing
coalition.
We’ll
have
to
see
if
the
centre
and
left
can
cobble
together
a
majority,
if
not
there
will
be
ongoing
instability
ahead.

As
for
the
euro,
EUR/USD
is
back
to
where
it
was
before
President
called
the
snap
election
on
Sunday
June
7,
which
gave
the
pair
a
gap
down
in
the
early
hours
on
Monday
June
8: