Euro Slumps as European Politics Raises Market Uncertainty
- Options show traders shift rapidly to euro-negative sentiment
- Common currency falls to lowest in month on French snap poll
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Heightened political uncertainty in Europe is piling pressure on the euro.
The common currency slid to its lowest in a month against the dollar after French President Emmanuel Macron and German Chancellor Olaf Scholz were trounced by far right parties in European elections Sunday. With the results leading the former to call a snap legislative ballot at home beginning on June 30, options markets show traders expect bigger swings and further losses.