Sentiment Hampered By French Election Concerns

European financial markets struggled with growing economic and political concerns on Tuesday as the euro neared its biggest fall this year and bond yield spreads over Germany reaching the widest in several years.

The dollar sped higher toward its biggest gain in a month against a basket of major currencies after jumping against the offshore Chinese yuan on the fall in Beijing’s foreign exchange reserves below $3 trillion for the first time in six years.

European corporate earnings offered investors some cheer even though oil giant BP missed estimates, but failed to completely shrug off the unease fueled by the growing unpredictability of the French presidential election race.

Reuters

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