EUR/JPY could tank on Le Pen victory - CIBC

There is widespread belief that Le Pen victory in French elections would be a third major shock to the financial markets after Brexit and Trump and big blow to Euro project.

Which could be the worst performing Forex pair if Le Pen wins?

Jeremy Stretch, Head of FX at CIBC, says Asian investors could dump Euro denominated assets following Le Pen’s victory in French election, thus leading to a sharp drop in EUR/JPY cross.

Also discussed in this segment is -

Cable’s range bound action and the potential for a break below 1.20

Is Sterling a mini-USD? Is it tied to US dollar/interchangeable?

#GBP/USD, #Cable, #forex, #currencies, #trading, #markets, #fundamentals, #USD, #LePen, #EUR/JPY, #politics