France’s two-stage presidential election system is expected to favour Macron, who is the current favourite on betting markets. But a Le Pen victory remains a possibility, said OANDA senior trader Stephen Innes.
“Once this wave of populism starts to spread, the fear is it will prove extremely contagious,” Mr Innes said.
“If you look at the overall landscape, there’s a build-up of political risk that continues to weigh not just in the United States but also on the continent. These risks are sitting idle in investors’ minds. So if anything negative happens, you get this sort of reaction.”
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