Pound Gains vs. Euro Ahead of Elections in France & Greece

The Great Britain pound gained against the euro today as Forex traders were nervous before the election in Greece and France this week. The currency fell against the US dollar despite the negative fundamental data from the United States.

The French will vote in the final round of the presidential elections on May 6, while Greeks will choose a new parliament. Some participants use plenty of anti-euro rhetorics in their speeches. It is likely that whoever would win the elections would be more moderate in their actions than in their speeches, but uncertainty makes traders shy away from the shared 17-nation currency. Fundamentals in Britain itself are bad enough to prevent the pound from rallying against other currencies.


EUR/GBP fell from 0.8127 to 0.8110 as of 15:27 GMT today. GBP/USD was down from 1.6176 to 1.6153.

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